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Russian politics have been dominated over the last decade by the relationship between the oligarchs and the state. The existing literature is damning of the oligarchs, on two major grounds: they won their wealth and power corruptly, and rapaciously stripped the assets they had so dubiously obtained. This book contains a critical analysis of each of the claims made against them. In doing so it presents a detailed analysis of the place of the oligarchs in the Russian political economy.