What is russian economy?

Russia's economy is a mixed, upper-middle income economy with state ownership in strategic sectors. It's heavily reliant on exports, particularly of crude oil, natural gas, and minerals.

Key features of the Russian economy include:

• Resource Dependence: A significant portion of the government's revenue comes from the sale of natural resources. This makes the economy vulnerable to fluctuations in global commodity prices.
• State Capitalism: The state plays a significant role in the economy, particularly in sectors like energy, defense, and finance. State-owned enterprises (SOEs) hold considerable market share.
• Economic Sanctions: Russia has been subject to various economic sanctions, particularly since the annexation of Crimea in 2014 and more recently due to the war in Ukraine. These sanctions have impacted access to finance, technology, and certain markets.
• Inflation: Like many countries, Russia is experiencing Inflation.
• Currency Fluctuations: The value of the Russian Ruble can be volatile, influenced by factors such as oil prices, sanctions, and geopolitical events.
• Income Inequality: Income inequality remains a challenge, with a significant gap between the wealthy and the rest of the population.
• Demographics: Russia faces demographic challenges, including a declining population growth rate and an aging workforce.
• Geopolitical Factors: Russia's economy is significantly affected by its geopolitical situation, including its relationships with other countries and its role in international conflicts.