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According to the etymology of the name Oleg – it form of Scandinavian name Helga (Norwegian Hailaga, Helgi. Most likely, that Oleg was one of the leaders of the Swedish Vikings, the Vikings, who entered into an alliance with Rurik, cementing his marriage with Rurik his sister. All politics Oleg looks typical of King-Vikings. Reduction of the eastern trade and the beginning of the decline of the Volga-Baltic way threatened the prosperity of Novgorod and turned it into a secondary forest edge. Trade has become a major source of enrichment for the prince. Only a full exchange of northern goods and re-export of goods to the eastern most Ladoga ensure prosperity and survival of the inhabitants of the region, as local food resources were small, and to purchase them, especially bread, needed money. Then Oleg took master key positions along the path "from the Vikings to the Greeks, who in the ix. replaced the Volga-Baltic way.

But the main points of this path controlled Kiev. Seems very plausible guess Mr. Margera on the alliance with Oleg Ugrians (Hungarians), who ensured the success of his policies. In Slavic languages, recorded the names of Oleg (Oley) (cheshsk. in 1088), Olek (Welek), toponyms Ologast, Wolegast, Wolgast, etc. 1. In Russian epics mention the name of the Volga and .

In 882 Oleg took Kiev, after taking Smolensk (female) and Ljubech. With the capture of Kiev, he killed the Prince of Kiev Askold. In 883 was forced to pay tribute to Oleg drevlyan in 884-885 years.