He was also chairman of the State Property Committee and governor of the Amur Oblast.
Originally he had been the governor of the Amur Oblast (1993–1994)[1] who had supported Yeltsin during the 1993 Russian constitutional crisis.
[2] The fall of the Russian ruble against the dollar in October 1994 brought about a shakeup in Yeltsin's economic team.
Polevanov was removed from those positions on 24 January 1995 after advocating for the re-nationalization of certain sectors after their "improper privatization," including energy and defense; objecting to the influence of foreign investment; and barring Western advisors from the Committee, to protect national secrets.
[5] In effect, Polevanov was criticized for being against privatizing key sectors of the economy, which he believed was threat to national security–something that damaged the confidence of foreign investors.