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A Top-to-Bottom Review of the Russian Economy

Nov. 30, 2017 With low oil prices, Moscow has had to get creative with the way it raises money.


It’s no secret that we at GPF believe Russia, as a global power, is on the decline. And it’s no secret that Russia owes its decline partly to the fall of the price of hydrocarbons, which drive its economy and account for much of its tax revenue. But resources such as oil and natural gas are only one of the three legs that prop up the Russian economy, which would falter without the other two: resource distribution and social spending. The former is structured to prevent the oligarchy from challenging Moscow’s power; the latter is ...

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