The reform process lost its momentum and had not produced the anticipated results in the first years of the reforms. Consequent governments attempted to follow the reform path, but the new lobby, which became strong due to the wealth and vested interests acquired during privatization, prevented the reforms from being effectively implemented. It was observed that the process of economic reforms in Russia and of redistribution of economic power led to a “legalization” of the old powers of communist political elite in the country, who now became country’s economic elite (Heilman 1998).