Summary More than a quarter-century after the disintegration of the U.S.S.R., the Russian government has still not introduced the structural economic reforms the country needs to make its economy truly competitive. Combined with the severely negative economic impact on the country resulting from slumping global oil prices and international economic sanctions imposed by the West, the result of that failure has been sadly predictable continuing economic underperformance.
Most Americans probably only dimly recall what life was like before OPEC's extortionist oil prices. Now at last, the U.S. is e xperiencing relief as the OPEC oil cartel crumbles.