Here I would like to draw attention to an aspect of Putin’s origin story that is mentioned less frequently: the role of the legitimate Western institutions, companies, lawyers, and politicians who enabled his schemes, profited from them, or covered them up. The deputy mayor of St. Petersburg made his money thanks to the Western companies that bought the exports, the Western regulators who were unbothered by the bad contracts, and the Western banks that were strangely lacking in curiosity about the new streams of cash flowing into their accounts.
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