Russia had the eighth-largest in the world in 2022, with GDP coming in at $2.24 trillion. But, the country's transition from a communist world power to an emerging economy was not easy. Therublewas devalued in 1998 following a national economic crisis—the same year that its economy began...
when Russian President Putin invaded Ukraine,the Russian stock market plummeted by 39% in a single day. The Russian ruble also hit record lows as citizens rushed to convert their currency into other more stable ones like USD.