Alexander Nevsky in the Golden Horde. After the fall of the Khazars in the 10th century, the middle Volga came to be dominated by the mercantile state of Volga Bulgariathe last vestige of Greater Bulgaria centered at Phanagoria. The Mongols held Russia and Volga Bulgaria in sway from their western capital at Sarai one of the largest cities of the medieval world. The princes of southern and eastern Russia had to pay tribute to the Mongols of the Golden Horde, commonly called Tatars ;  but in return they received charters authorizing them to act as deputies to the khans.
Russia Economy Overview Economic Overview of Russia Following the collapse of the Soviet Union, the first decade of transition from a centrally-planned economy to market economy was disastrous for Russia: In an attempt to address the economic turmoil and follow the recommendations from the IMF, the Soviet government began to privatize many Russian industries during the s.
Important exceptions were, however the energy and defense sectors.
Russia was among the hardest-hit economies by the global economic crisis: The Russian economy experienced two major shocks innarrowly avoiding recession with moderate growth of 0.
After fluctuating within a tight band near USD per barrel fromcrude oil prices ended at less than USD 60 per barrel.
The second shock was the economic sanctions resulting from geopolitical tensions, which negatively affected investor appetite for Russian investments.
Forecasts are pointing to an end to the recession coming soon in Inflation has been falling rapidly since Augustwhen it reached a peak of Along with the fall in inflation, Central Bank lending rates have been reduced.
Russian bonds and equities are performing well against those of other emerging markets and a modest recovery in oil prices has bolstered economic sentiment.
Considering that the price for Urals oil will average USD 38 per barrel inthe Central Bank expects the economy to contract between 0.
The Bank expects the economy to expand at a rate of between 1. Previously, the Bank had expected the price for Urals oil to average USD 35 per barrel and had projected economic growth rising to within a range of minus 0.
Panelists expect the economy to expand 1.
Private sector capital outflows increased from USD During the same period, capital and financial accounts of the Russian Federation fell from a deficit of USD The economy contracted 3.
However, the contraction in the Russian economy in the second quarter of was the slowest since the recession began in late Comprehensive data showed that GDP contracted 0.
Although industrial production shrank in September, falling at the fastest pace seen in 8 months, it is expected to expand slightly in after suffering the worst contraction in six years in Other significant imports include pharmaceuticals, textile and footwear, plastics and optical instruments.
This marked the 10th consecutive contraction at a double-digit rate.
The history of Russia between and is essentially the history of the Union of Soviet Socialist Republics, or Soviet Union. This ideologically based union, established in December by the leaders of the Russian Communist Party, was roughly coterminous with Russia before the Treaty of Brest-Litovsk. The history of Russia between and is essentially the history of the Union of Soviet Socialist Republics, or Soviet Union. This ideologically based union, established in December by the leaders of the Russian Communist Party, was roughly coterminous with Russia before the Treaty of Brest-Litovsk. After the socialist revolution of in Russia, Moscow became the capital once again, and the state system of the large Russian country had changed completely. The followers of the communist ideas of Karl Marx and the ideology of the Russian revolution leader Vladimir Lenin took over.
Imports totaled USD The fall in the trade surplus continues to reflect the free fall that Russian exports have registered over the last few years.
Following a period of heightened volatility, oil prices have recently stabilized especially since the extraordinary meeting of the OPEC Conference in Algiers in the last week of September, which concluded with a commitment to freeze oil production at between Urals oil has also recovered from the lows registered earlier this year and was Bank Rossii spent USD Interest rates were kept steady for nearly a year until June when they were cut by 50 basis points to Russia’s economic freedom score is , making its economy the th freest in the Index.
In the past years, tens of millions of men, women and children have lost their lives in genocide or mass atrocities.
Millions have been tortured, raped or . In , the last president of the former Soviet Union Mikhail Gorbachev said of the current Russian political system: "We have everything - a parliament, courts, a president, a prime minister, and so on.
Historical Background Russia Table of Contents The Soviet economic system was in place for some six decades, and elements of that system remained in place after the dissolution of the Soviet Union in Years of U.S.-Russia Relations Share For more than years, Russia and the United States have shared a multi-faceted diplomatic relationship, at one point even sharing a land border when Russia had a settlement at Fort Ross, California. Russia’s economic freedom score is , making its economy the th freest in the Index.
Russian history dates from the late 9th century AD. The earliest Russian state, known as Kievan Rus, had its capital for the most part in Kiev (in present day Ukraine).
The ruling dynasty came from Scandinavia and had cultural and commercial ties to northern Europe. Russia’s transition from a centrally planned economy to a more market-based system has stalled, and the country remains predominantly statist.
Russia’s trade surplus narrowed to USD billion in August of this year, which came in dramatically below the USD billion registered in the same month last year and the USD billion the prior year.