I think it’s just American propaganda to blame this on socialism. You had a politician with a miltary background who knew nothing about oil destroy an oil company. Norway is fairly socialist - distributing the gains of oil amongst it’s people, and it’s doing quite well.
What you had in Russia was statism not socialism - power and wealth were concentrated in the communist party rather than shared with the people.
What you had in Russia was statism not socialism - power and wealth were concentrated in the communist party rather than shared with the people.