AKE Analyst on CNBC: ‘Oligarch list’ a sigh of relief for many in Russia

Max Hess, senior political risk analyst at AKE International, discusses a list of Russia’s wealthiest released by the U.S. Treasury.

Max also discussed with CNBC how the U.S. Treasury Department’s list released Monday detailing 210 Russian oligarchs and close political affiliates of President Vladimir Putin bears a striking resemblance to a list of Russia’s richest citizens published in Forbes Magazine in 2017.

“The fact the list of oligarchs released resembles Forbes’ rich list, more than it does a public airing of organized corruption centered on the Kremlin, could mitigate slightly some of the concerns of those named regarding potential fallout,” Max Hess, senior political risk analyst at AKE International, told CNBC Tuesday.

“The oligarchs’ list criteria was merely a $1 billion net worth, apparently as reported in the media.”

Parts of the Treasury report, which was mandated by Congress as part of CAATSA, remain classified and reportedly contain more names of individuals and entities, some of whom have a net worth of lower than $1 billion.

“The possibility remains that classified information submitted to Congress includes a more thorough airing of the oligarchic networks centered on the Kremlin, but a Russian business person’s publicly-acknowledged wealth of course does not directly correlate to their closeness to the Kremlin,” Hess noted.

CNBC Interview – ‘Oligarch’s list’ a sigh of relief for many in Russia

 

‘Oligarch list’ a sigh of relief for many in Russia: Analyst

Max Hess, senior political risk analyst at AKE International, discusses a list of Russia’s wealthiest released by the U.S. Treasury.

 

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