Russian billionaires have amassed their fortunes by dishonest means but the reversal of privatization would make things even worse, Prime Minister Vladimir Putin said on Thursday.
“We should not be talking about nationalization but about putting these people (oligarchs) back in the stable, forcing them to work according to law and pay taxes, using tax receipts to deal with social issues,” he said at a televised Q&A session.
He admitted that many oligarchs had acquired multimillion-dollar fortunes as a result of unjust privatization.
“They admit that themselves but taking away that property now could lead to worse consequences than the dishonest privatization itself, disrupting the operation of major enterprises,” Putin said.
