(MOSCOW) — The ostentatious wealth long associated with the Russian Federation’s elite, often romanticised in popular culture, is facing a systemic collapse as the nation’s largest corporate entities face potential bankruptcy. Major flagships of the regime, including Lukoil, Rosneft, Gazprom, and Russian Railroads (RZD), have reported devastating losses, with some seeing annual revenues plunge by 50 per cent. This downturn has forced these once-profitable giants to seek emergency liquidity from a federal budget and a National Wealth Fund that are…