Russia

Russia has one of the world's largest economies, but it is unusually dependent on the export of natural resources, above all oil and natural gas, which fund a large share of the federal budget.

Since its annexation of Crimea in 2014, and especially its full-scale invasion of Ukraine in 2022, Russia has faced the most sweeping international sanctions ever imposed on a major economy. It has redirected energy exports toward China and India and shifted onto a war footing, with heavy military spending sustaining headline growth even as access to advanced technology has narrowed.

Key Sectors

The economy spans the full range of extractive industries (oil, gas, coal, metals, and chemicals), machine building from aircraft to space vehicles, defense manufacturing, agriculture — Russia is a leading wheat exporter — and metals such as nickel, aluminum, and palladium.