This week in Russia's business community, a billionaire was arrested. Which means Vladimir Yevtushenkov was restricted to his palatial estate while investigation continues into the 2009 purchase of an oil producer, Bashneft, by his conglomerate, AFK Sistema.
Based on this much, it could be the result of an effort to clean up the system - or at least the perception of it as being an untrammeled oligarchy. The government is asserting its authority and ensuring that nobody is above the law.
Which is reasonable for anyone who thinks this is happening in an enlightened democracy with a well-defined rule of law. In Russia, though, that is not a commonly accepted perception. A more common view is that Putin is in charge, and anything that happens in the government occurs because Putin believes it to be a good idea. Even when - as in this case - Yevtushenkov is known for being a straight arrow, paying attention to whatever person in charge. That is at least part of the reason his arrest caused Russia's index to drop 2% as news filtered out: If even he could be targeted, nobody was safe.
That does leave the question of Why - why does this state of affairs help Putin? One view is that Putin ally Igor Sechnin is interested in the acquisition of Bashneft, by his company Rosneft. This would help to circumvent the sanctions implemented as a result of recent events in Ukraine. Putin is making it easier for Sechnin to add this company.
This sort of corruption does makes it look more like Russia is hovering between a First and Second Turning.
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