Renovation Work At The Sayan-Shushenskaya GES, Russia

From 1985 onwards, the last Soviet leader Mikhail Gorbachev introduced the policies of glasnost (openness) and perestroika (restructuring) in an attempt to modernize the country and make it more democratic. However, this led to the rise of strong nationalist and separatist movements. Prior to 1991, the Soviet economy was the second largest in the world, but during its last years it was afflicted by shortages of goods in grocery stores, huge budget deficits, and explosive growth in money supply leading to inflation.
In August 1991, an unsuccessful military coup, directed against Gorbachev and aimed at preserving the Soviet Union, instead led to the end of socialist rule. The USSR was dissolved into 15 post-Soviet states in December 1991.
• Russian Federation
Boris Yeltsin was elected the President of Russia in June 1991, in the first direct presidential election in Russian history. During and after the Soviet disintegration, wide-ranging reforms including privatisation and market and trade liberalization were being undertaken, including the radical changes along the lines of "shock therapy" as recommended by the United States and International Monetary Fund. All this resulted in a major economy crisis, characterized by 50% decline of both GDP and industrial output between 1990–95.