The use of the term “oligarch” or “oligarchy” in the Russian context speaks to debates about the very nature of the Russian political system. Historians and political scientists have long described Russia as oligarchic.The problem with using the term oligarch, however, is that its usage has changed repeatedly since Soviet times. Today, it seems to be much more about power than anything else.

The term “oligarch” is applied so flagrantly to Russians, it is hard to tell where Russia’s oligarchy begins and ends, who exactly inhabits this coterie and what ring do the oligarchs orbit around Vladimir Putin. Indeed, the meaning of the word oligarch is difficult to separate from Russia. According to the Oxford English Dictionary an “oligarch” means “a very rich business leader with a great deal of political influence”. Though this definition could easily apply to most countries, the OED added a curious addendum: “Especially in Russia.”

This piece originally appeared in Issue 1/2017 of New Eastern Europe. Subscribe now.