Economic security

These 5 Facts Explain Russia’s Economic Decline

Corruption, cheap oil and unproductive workers all hold Russia back—though Russians don't seem to care.

For the first time since 2009—low point of the global economic slowdown—Russia is in recession. Its economy will contract 3 percent this year, though Moscow’s $360 billion in cash reserves will cushion the immediate blow. Still, as President Vladimir Putin continues to try to assert Russian power on the international stage, it has become clear that he is now ruling a “submerging market.” Unless something changes, Russia is in for a slow and steady economic decline.