Since the collapse of the soviet union, many would argue that russia has been ruled by an oligarchy, characterized by power being held by which of the following?

a small group of rich and powerful aristocrats

Explanation:

The Russian economy created one of the most unequal social systems after the privatizations came with the downfall of the Soviet Union.

The Gas, oil and other energy sectors were acquired under the conditions of low legislations and seized by oligarchs.

After the 1990's reforms, the state left  ownership of key assets to a group of former USSR officials, which today constitute Russias billionaires

They acquired state property under the poor democratic regulations that followed.

The conditions continue to exist today as Vladimir Putin continously meets with these group of business man and ensures they follow his mandate policies.