Ukraine's Oligarchs Will Play a Decisive Role

Ukraine's independence from the Soviet Union was followed by the privatization of state-owned assets, giving birth to a powerful class of business leaders known as oligarchs. Since the country's founding, they have played a crucial role in the political system — there are close ties between Ukraine's oligarchs and the evolution of the country's political crisis. This was most recently illustrated in Donetsk on March 9, when Ukrainian presidential hopeful Vitali Klitschko met with Rinat Akhmetov, the country's richest man, to discuss the ongoing situation.

 

The oligarchs function as a bridge between the Western-leaning interim government and Russia's interests in the country, especially in the Ukrainian east. They will play a key role in negotiations over Ukraine's political future and will prove pivotal in shaping any Ukrainian administration's relationship with Russia.