by Lilit Gevorgyan, St. Petersburg Times, Russia - Putin reinvented himself as the main advocate of state capitalism, resulting in part from a power struggle and drive to curtail oligarchic influence on the energy sector. He has since shown little interest in modernization or diversification of the economy, and has seen the emergence of a new circle of oligarchs. These oligarchs have close ties to the Kremlin without the inclination to challenge Putin.