Question

What is meant by “Nomenklatura Privatization”? When did it occur?

Answer 1

In Early 1990 and late 1980 the privatization of Russia state owned assets took place where people of USSR at that time viewed the state owned properties as their nomenklatura properties and they were not ready for this privatization process.

Thus after the disintegrating of Soviet systems the government made necessary laws and amendments and started the process. All these assets are handed over to different groups of Nomenklatura which is called as Nomenklatura privatization.

Nomenklatura were the people of soviet union who help various key administrative duties in than government.