I remain a Putin kompromat skeptic, as weird and incomprehensible as everything appears. But this article by Adam Davidson is really interesting: it discusses the broader context or “system” that Trump may have (unwittingly) become a part of years ago, when he sought financing or (possibly) laundered money, or whatever, presuming (with good reason) that he’d never get caught. To me, it seems more plausible, or at least easier to imagine:
A Theory of Trump Kompromat
Ledeneva said that the key to understanding Trump’s interaction with sistema is to look at the people with whom he did business. “Trump never dealt with anybody close to the Kremlin, close to Putin,” she said. “Or even many Russians.” Trump’s business deals, she told me, were with tertiary figures. Sistema is rooted in local, often familial, trust, so it is common to see networks rooted in ethnic or national identity. My own reporting has shown that Trump has worked with many ethnic Turks from Central Asia, such as the Mammadov family, in Azerbaijan; Tevfik Arif, in New York; and Aras and Emin Agalarov, in Moscow. Trump also worked with large numbers of émigrés from the former Soviet Union.
If there truly is damaging kompromat on Trump, it could well be in the hands of Trump’s business partners, or even in those of their rivals. Trump’s Georgian partners, for example, have been in direct conflict with other local business networks over a host of crucial deals involving major telecommunications projects in the country. His Azerbaijani partners were tightly linked to Iranians who were, also, senior officers in the Islamic Revolutionary Guard Corps. The work of Ledeneva and Darden suggests that Trump’s partners and their rivals would likely have gathered any incriminating information they could find on him, knowing that it might, one day, provide some sort of business leverage—even with no thought that he could, one day, become the most powerful person on Earth.
Ledeneva is skeptical that Putin, years ago, ordered an effort to collect kompromat on Trump. Instead, it is possible that there is kompromat in the hands of several different business groups in the former Soviet Union. Each would have bits and pieces of damaging information and might have found subtle (or not so subtle) ways to communicate that fact to both Trump and Putin. Putin would, likely, have gathered some of that material, but he would have known that he couldn’t get everything.