Short answers, pulled from the story.
Russia has the ninth-largest economy in the world by nominal GDP and the fourth-largest economy by GDP measured at purchasing power parity. The World Bank reclassified Russia as a high-income economy in July 2024 based on 2023 results.
After the Soviet Union collapsed in 1991, Russia underwent shock therapy price liberalization beginning on the 2nd of January 1992, triggering inflation of 2,509% in 1992 alone. By 1997, the number of people living in poverty had increased fifteen times compared to 1990, with roughly half the population below the poverty line. Russia suffered the largest peacetime rise in mortality ever recorded in an industrialized country during this period.
Russia joined the World Trade Organization on the 22nd of August 2012, after 19 years of negotiations. It was the last major economy to join the WTO.
Oil and gas accounted for over 70% of Russia's total exports in 2012 and up to 50% of federal budget revenues in the mid-2010s. By 2024, the oil and gas share of federal budget revenues had fallen to around 30%, and the sector's share of GDP was assessed by Rosstat at 15.2% in 2020.
Sanctions imposed after Russia's 2022 invasion of Ukraine included asset freezes on the Russian Central Bank, which held $630 billion in foreign-exchange reserves. Russia defaulted on part of its foreign currency debt in 2022, its first such default since 1918, and the ruble fell past 100 to the US dollar by October 2023. By June 2023, Russia's exports to the European Union had dropped to 1.7% of its total exports.
Moscow accounts for more than 20% of Russia's total gross regional product. In 2024, Mayor Sobyanin reported that Moscow's gross regional product at purchasing power parity had grown to $1.39 trillion, placing the city second among the world's largest urban economies behind only New York. Moscow is home to 90 billionaires as of 2025.