Some Russia sanctions were meant to split the economic elite from the Russian government—but have instead pushed businessmen closer to the Kremlin
Mr. Deripaska’s car maker GAZ took out a raft of loans from Russian state-controlled banks, including VTB Bank and Sberbank, to pay off his Western creditors. Today, he says, the company has no loans with the West—while its debt to the Russian state has swelled to $1.
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