The much criticized _____ initiated by the Russian government as part of the economic reforms in the 1990s, turned over major state-owned firms to politically connected 'oligarchs.'

Question

Quizplus · Accepted Answer

The correct answer is the loans-for-shares scheme, which was a controversial process in the 1990s where the Russian government, in an effort to raise funds, auctioned off shares in state-owned enterprises to private investors, leading to the rise of oligarchs who gained significant wealth and political influence through acquiring these shares at undervalued prices.

The Much Criticized _____ Initiated by the Russian Government as Part