Russian Economic Transformation

In the 1990s, privatization was carried out in Russia, as a result of which state property passed into private hands. This process was accompanied by the emergence of oligarchs—a group of influential businessmen who acquired significant assets in key sectors of the economy.

In the 2000s, under President Vladimir Putin, the state began to strengthen control over strategic industries such as energy and natural resources. This led to the emergence of state capitalism, where large state-owned corporations play a dominant role in the economy.

In recent years, the Russian economy has faced sanctions from Western countries, which has led to the need for:

• Import substitution
• The search for new trading partners, especially in Asia.