Russian oligarch 2004, Putin apparently engaged in a power-struggle with some oligarchs, reaching a "grand bargain" with them. This bargain allowed the oligarchs to maintain their powers, in exchange for their explicit support of – and alignment with – Putin's government. Many more business people have become oligarchs during Putin's time in power, and often due to personal relations with Putin, such as the rector of the institute where Putin obtained a degree in 1996, Vladimir Litvinenko, and Putin's childhood friend and judo-teacher Arkady Rotenberg. However, other analysts argue that the oligarchic structure has remained intact under Putin, with Putin devoting much
Arkady Rotenberg half of them in the Moscow area. SMP oversees the operation of more than 900 ATM-machines. SMP bank also became a leading large-diameter gas pipe supplier. Gazprom often appears to have paid Rotenberg inflated prices. In 2007, Gazprom rejected an earlier plan to build a 350-mile pipeline and instead paid Rotenberg $45 billion, 300% of ordinary costs, to build a 1,500 mile pipeline to the Arctic Circle. In 2008, Rotenberg formed Stroygazmontazh (SGM) with five companies he had purchased from Gazprom for $348 million. The next year the company earned over $2 billion in revenue. Rotenberg then bought Northern Europe