Oligarchs and Corruption in Putin's Russia: Of Sand Castles and Geopolitical Volunteering

Abstract

The article analyzes Russia's elite corruption from domestic and international perspectives. While corrupt proceeds make Russian elites invested in the political system, corruption also acts as a destabilizing force in Russia. I argue that corruption is a double-edged sword for the oligarchs and the Kremlin alike. As a competitive kleptocracy in which corrupt elites have the option of international exit via offshores, Russia currently lacks any clear "top-down" path towards the rule of law. Furthermore, the country's elite corruption presents political problems for the West. The article concludes with some policy recommendations.

Keywords: Putin, Russia, corruption, oligarchs, post-communist transition, offshores, agent predation, state-building