The Russian Federation stretches across much of the north of the supercontinent Eurasia and as such knows a great variety of landscapes and climates. Most of the landscape consists of vast plains, both in the European part and the Asian part that is largely known as Siberia. These plains are predominantly steppe to the south and heavily forested to the north, with tundra along the northern coast. Mountain ranges are found along the southern borders, such as the Caucasus (containing Mount Elbrus, Russia's highest point at 5,633 m) and the Altai, and in the eastern parts, such as the Verkhoyansk Range or the volcanoes on Kamchatka. Notable are the more central Ural Mountains that form the primary divide between Europe and Asia.
A decade after the collapse of the Soviet Union in 1991, Russia is still struggling to establish a modern market economy and achieve strong economic growth. Russia saw its economy contract for five years, as the executive and legislature dithered over the implementation of reforms and Russia's industrial base faced a serious decline.
Russia achieved a slight recovery in 1997. The 1998 financial crisis culminated in the August depreciation of the ruble, a debt default by the government, and a sharp deterioration in living standards for most of the population. The economy subsequently has rebounded, growing by an average of more than 6% annually in 1999-2001 on the back of higher oil prices and a weak ruble.
This recovery, along with a renewed government effort in 2000 and 2001 to advance lagging structural reforms, have raised business and investor confidence over Russia's prospects in its second decade of transition. Russia remains heavily dependent on exports of commodities, particularly oil, natural gas, metals, and timber, which account for over 80% of exports, leaving the country vulnerable to swings in world prices.
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