Modern Russia holds a storied image internationally that no longer has a bearing in reality. In the days of the Union of Soviet Socialist Republics (USSR), Moscow went head-to-head with Washington in the battle to be the world’s most powerful economic force, but the modern era of Russia has seen it steadily losing influence as an economic power. No longer inside the top ten global economies, Russia now ranks alongside
Canada and South Korea, with an annual GDP of US$1.65 trillion.