The Economic Development Process of Russia after the Dissolution of the Soviet Union

Abstract

Since the dissolution of the Soviet Union in 1991, the overall economy of Russia has maintained a positive development trend. Among them, oil, natural gas, and mineral resources are some of the most important industrial pillars in Russia, accounting for over 50% of the total revenue of the Russian government. Russia's economy is inseparable from its energy. The single economic structure of excessive dependence on energy resources has also brought many problems to Russia. The economic crisis in 2008, the 14-year Crimean War, the 19-year COVID-19, and the 22-year Russian-Ukrainian War are all great tests of Russia's economic stability. This article mainly discusses the economic development process of Russia from 1991 to the present and elaborates and analyzes Russia's economic situation, structure, and characteristics by sorting out the difficulties encountered by Russia over the past 30 years and corresponding policies. By analyzing the economic development process of Russia, this study can discover many factors that affect the economy and the importance of publishing correct policies, which has great learning significance.