The Russian economy has undergone something of a recovery in the past couple of years, based on high oil prices - but starting from the lows of the economic crisis that triggered the rouble devaluation in 1998. Now Russia hopes to use its new strategic alliance with the United States to strengthen its international economic position, including membership of the World Trade Organisation. It is also hoping for debt restructuring and fresh loans from the IMF and World Bank. But corporate governance is still an issue, and tax evasion is widespread despite a crackdown by Mr Putin’s government.
BBC News Online Russian Service reporter Alexander Kolliandre looks at the economic bargain struck between Russia and the West.
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