Oligarchs and the forever rotten foundation of Russia’s post-Soviet economy.

For once, this note is not all about Putin’s destruction — of Ukraine, of Russia, and everything related. Well, it’s about that… But he’s part of the wider problem. And let me be upfront — I am about to make a bunch of negative observations without even attempting to suggest what could have been done differently, or what can be done going forward. Because no one knows. There is no solution. There is no going back in history.