President Vladimir Putin's campaign to compel Russian officials to repatriate their foreign-held assets represents a major change in the unwritten contract between the Kremlin leader and the broader elite.
Under the old deal, officials were allowed to line their pockets and bend the rules in exchange for unswerving loyalty. But if this is no longer the case, then what is the new deal? And what are its risks?
In the latest edition of "The Power Vertical Podcast," I discuss these issues with co-host Kirill Kobrin of RFE/RL's Russian Service and special guest Andras Toth-Czifra, a Brussels-based political-risk consultant and author of the blog "No Yardstick."
Listen to or download the podcast above, or subscribe to "The Power Vertical Podcast" on iTunes.