Boris Yeltsin and Russian Economic Changes

These flashcards cover key terms and concepts related to Boris Yeltsin's presidency and the economic changes in Russia.

Boris Yeltsin

1st President of Russia who implemented major economic reforms.

Oligarchs

Powerful/Rich Russian citizens who gained political influence through privatization.

Privatization

The sale of state-owned assets in Russia, leading to a shift towards a market economy.

Shock Therapy

An economic approach in Russia aiming for rapid transition to a capitalist economy.

Duma

The lower house of the Federal Assembly of Russia, which opposed Yeltsin at times.

Economic Power

The goal of Russia's transition to a more capitalist/free-market economy.

Military Force

What Yeltsin used to assert authority against the Duma's opposition.

Inflation

The economic condition that rose due to the failure of Shock Therapy.

Reelection Bid

Yeltsin's concern about losing popularity leading to more privatization.

Energy Assets

Oil and gas, representing Russia's biggest economic resources.

Vladimir Putin

Yeltsin's successor, appointed in the winter of 1999.