Oligarchs: Visible hand

Russia’s oligarchs are lining up for the Kremlin’s cash and may soon find out it doesn’t come free. Banks, energy and mining companies want a piece of the $50bn of state money pledged by the government to help them refinance their foreign debt. Following the 70% plunge in Russian stock exchanges since early July, oligarchs are also facing margin calls on some of their holdings. Vladimir Putin had already brought the energy sector under state’s ownership, and cowed billionaires into obedience. Bu...