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After losing 45% of its value against the dollar in the first two weeks of the Ukraine invasion, the Russian rouble has risen to just below its pre-war level, thanks to capital controls by Moscow ...
The war in Ukraine is draining Russia's inventory of weapons faster than replacements can be built, while industries critical to the defense sector warn on high interest rates.
[1] [2] Steady economic growth began in the 1890s, alongside a structural transformation of the Russian economy. [1] By the time World War I started, more than half the Russian economy was still devoted to agriculture. [1] [3] By the early 20th century, the Russian economy had fallen further behind the American and British economies. [1]
The arms industry of Russia, also known as the defense industry of Russia is a strategically important sector and a large employer in the Russian Federation. [1] It employs approximately 3.5 million people nationwide and accounts for 20% of all manufacturing jobs in Russia. Total defense spending in Russia reached 7.5% of GDP in 2023. [2] [3]
Certain industries of the Russian Empire were characterized by extremely rapid growth. From 1894 to 1914, in the Russian Empire, coal production increased by 306%, oil - by 65% (growth stopped in 1901, since then no increase has been observed), gold - by 43%, copper - by 375%; cast iron - by 250%; iron and steel - by 224%.
The Russian Empire [e] [f] was a vast empire that spanned most of northern Eurasia from its proclamation in November 1721 until the proclamation of the Russian Republic in September 1917. At its height in the late 19th century, it covered about 22,800,000 km 2 (8,800,000 sq mi), roughly one-sixth of the world's landmass, making it the third ...
The formal end to Tatar rule over Russia was the defeat of the Tatars at the Great Stand on the Ugra River in 1480. Ivan III (r. 1462–1505) and Vasili III (r. 1505–1533) had consolidated the centralized Russian state following the annexations of the Novgorod Republic in 1478, Tver in 1485, the Pskov Republic in 1510, Volokolamsk in 1513, Ryazan in 1521, and Novgorod-Seversk in 1522.
The Russian Empire also acquired the island of Sakhalin which was turned into one of history's largest prison colonies. [45] [46] Initially, Russian maritime incursions into the waters surrounding Hokkaido began in the late eighteenth century, spurring Japan to map and explore its northern island surroundings.