When
he was named acting president of Russia on December 31, 1999, Vladimir Putin inherited a country still reeling from the Soviet Union’s breakup: economic woes caused by the rapid privatization of state assets and the August 1998 financial crisis, ethnic unrest and war in Chechnya, and Russia’s demotion from superpower status. Over the next seven years, the Putin government introduced a series of national reforms aimed at making Russia once again a major player on the world stage. Dmitry Medvedev’s election as the new president means that his term will be a continuation of the policies set in place by his predecessor and mentor, who stays on as prime minister and seems literally prime—“first in rank, authority, or significance,” as the Oxford English Dictionary says.
Putin’s time in office has left its mark. Until recently, the economy had grown steadily for ten years, largely because of Russia’s oil and natural gas reserves, which make up around 60 percent of its export ...
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