Turbulence in the Russian Economy Management System

Turbulence in the Russian Economy Management System
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Turbulence in the Russian Economy Management System
Premise
The Russian economy is in turbulence due to internal and geopolitical challenges and threats. Internal and external factors cause economic turbulence and uncertainty. There is a lot of pressure from the West. The economy has been negatively impacted by falling oil prices and ruble depreciation. Geopolitical threats to the economy are presented by campaigns in Syria against Islamic State. The country had also made trade decisions which have affected internal enterprises.
Evidence to Support Argument
The evidence of economic turbulence is indicated by declining oil and gas sector. The country is highly dependent on oil whose decline means an economic crisis for the country. Industries which design rival products like machines, equipment, and machine tool stations have declined. The country is faced with sanctions, and oil prices have decreased rapidly. Political sanctions have impacted the Russian economy by restriction the country from participating in an economic process and freedom of choice and enterprise. Sanctions incite people into a rebellion which translates into a difficult economic situation and eventually overthrowing the constitutional form of government. Accession into WTO in 2012 meant participating in a liberal competitive trade which displaced weaker Russian produces. The gross domestic product (GDP) had r…