Russia profile country

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A vast nation replete with diversities, Russia geographically spans the breadth of the two continents of Asia and Europe. It is the largest country in the world in terms of its geographical area of more than 6. A country with extreme climatic conditions, difficult terrain, and spread over 10 time zones, Russia boasts of abundant mineral resources, especially oil, natural gas, and coal reserves. It is the world’s largest oil producer and the second largest exporter after the OPEC. A journey from communism to democracy The largest republic of the erstwhile Soviet Union, Russia has also been witness to contrasting political structures.

As a part of the Soviet Union, it experienced an authoritarian one-party communist regime from 1917-1990. The stand-off intensified during 1945-91, and though there was no direct military confrontation between the U. Soviet Union, it led to the creation of an increasingly polarized world. The Soviet Bloc, consisting mainly of communist nations in Eastern Europe, was pitted against the Western and Southern European nations which owed allegiance to the U. Russians warm up to the world The regime of Mikhail Gorbachev during 1985-90 is considered to be a groundbreaking one, marking the end of an era of isolation.

At this time, the country experienced a visible paradigm shift. The cold war with the U. However, while Gorbachev was proclaimed worldwide as the pioneer of change and a visionary, he became increasingly unpopular in the Soviet Union as Russians battled scarcity of food and other basic amenities. There were agitations and increasing demand for independence from the 15 republics of the USSR.

In that year, Boris Yeltsin emerged as the first democratically elected President of Russia. The Matryoshka, or nested doll, originated in Moscow over 100 years ago, and remains an endearing symbol of Russian culture. The early 1990s were characterized by an austerity regime, which caused prices to skyrocket, while a severe credit crunch devastated many industries in Russia, triggering a virtual depression in the country. The reforms also wreaked havoc on the living standards of the populace, who were now deprived of the Soviet-era state subsidies. However, Yeltsin’s promise to discard some unpopular economic reforms, and boost welfare spending, helped him regain a second term as President in 1996. However, political and economic debacles continued to engulf the ailing President, especially Russia’s debt default in 1998 and the ensuing financial crisis. Yeltsin eventually resigned in December 1999 in a surprise move, nominating Vladimir Putin as the acting President, who then went on to win the Presidential elections in 2000.