In [Russia](https://doctorparadox.net/category/politics/russia/), "grabification" (prikhvatizatsiya in Russian) is a slang term that emerged during the 1990s to describe the controversial privatization process that occurred in Russia following the collapse of the Soviet Union. This term is a play on words, combining the Russian word for "grab" or "seize" (prikhvatit) with the Russianized English word "privatize"[1][3]. The concept of "grabification" reflects the widespread belief among Russian citizens that the privatization process was deeply flawed and [corrupt](https://doctorparadox.net/category/politics/corruption/). It implies that instead of a fair distribution of state assets, the privatization program resulted in a small group of well-connected individuals rapidly acquiring vast amounts of formerly state-owned property and resources at extremely low prices[1][3]. Key aspects of "grabification" include: 1. Rapid transfer of state assets: The privatization process involved the quick sale or distribution of thousands of state-owned enterprises, often at prices far below their actual value[1]. 2. Concentration of wealth: A small number of individuals, often with political connections or insider knowledge, were able to acquire significant portions of Russia's industrial and natural resource assets[2]. 3. Lack of transparency: Many Russians believed that the privatization auctions were rigged or lacked genuine competition, favoring certain insiders[2]. 4. [Creation of oligarchs](https://doctorparadox.net/inequality-fascism-capitalism-trickle-down/): The process led to the emergence of a new class of wealthy business owners, known as oligarchs, who gained enormous economic and political influence[3]. 5. Public discontent: The term reflects the widespread dissatisfaction and cynicism among ordinary Russians, who felt they were excluded from the benefits of privatization[5]. The concept of "grabification" continues to influence Russian perceptions of the country's economic transition and the origins of its current wealth distribution. It remains a contentious topic in discussions about Russia's post-Soviet economic development and the fairness of its market reforms. Sources [1] Privatization in Russia: The Rise of Market-Based Systems in ... https://www.diplomaticourier.com/posts/privatization-in-russia-the-rise-of-market-based-systems-in-modern-russia [2] Privatization in Russia - Wikipedia https://en.wikipedia.org/wiki/Privatization_in_Russia [3] RUSSIAN PRIVATIZATION AND OLIGARCHS - Facts and Details https://factsanddetails.com/russia/Economics_Business_Agriculture/sub9_7b/entry-5169.html [4] What is an oligarch, really? - The Washington Post https://www.washingtonpost.com/world/2022/03/22/what-is-oligarch-russia-sanctions/ [5] Selling Russia - CFO.com https://www.cfo.com/news/selling-russia/676648/ [6] Russian Banking Scandal Poses Threat to Future of Privatization https://www.nytimes.com/1996/01/28/world/russian-banking-scandal-poses-threat-to-future-of-privatization.html [7] How Russia's Billionaire Oligarchs Got So Very Rich - Business Insider https://www.businessinsider.com/what-is-a-russian-oligarch-2013-3