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Privatization of the oil sector was regulated by presidential decree No.1403 approved on November 17, 1992. Vertically integrated companies were created by joining some oil-producing enterprises and refineries into open-stock companies. Starting in 1994 many former state oil companies were privatized.
The so-called voucher privatization program of 1992–1994 enabled a handful of young men to become billionaires, specifically by arbitraging the vast difference between old domestic prices for Russian commodities (such as natural gas and oil) and the prices prevailing on the world market.
Crude oil, a major export of Russia, declined in price by nearly 50% between its yearly high in June 2014 and 16 December 2014. The second was the result of international economic sanctions imposed on Russia following Russia's 2014 annexation of Crimea and the subsequent Russo-Ukrainian War .
A growing number of lawmakers in the British prime minister's ruling Conservative party have turned on their leader after months dominated by scandal — and now the threshold has been met to ...
Former British Prime Minister Boris Johnson -- ousted by ethics scandals just three months ago -- jockeyed to make a comeback Friday as one of several contenders seeking to replace Liz Truss ...
Conservative grievances with Mr Johnson stretched back much further than the most recent row over the handling of claims against Chris Pincher.
Boris Nikolayevich Yeltsin [a] [b] (1 February 1931 – 23 April 2007) was a Soviet and Russian politician and statesman who served as the president of Russia from 1991 to 1999. He was a member of the Communist Party of the Soviet Union from 1961 to 1990.
Boris Abramovich Berezovsky (Russian: Борис Абрамович Березовский, Hebrew: בוריס ברזובסקי; 23 January 1946 – 23 March 2013), [5] [6] also known as Platon Elenin, [7] was a Russian business oligarch, government official, engineer and mathematician and a member of the Russian Academy of Sciences.