When the Soviet Union fell in 1991, Russia's economy suffered

major difficulties. For the next decade, the country went from

financial crisis to financial crisis. Foreign investors stayed away

and there was a rapid decline in the value of the Russian

currency, the Ruble. Since then, the Russian economy has grown

at an average of seven percent a year and the country has one of

the strongest stock markets in the world.

Global investment banks describe Russia's economic performance

as remarkable. So how did Russia turn a failing economy into a

financial powerhouse? The Oil Wealth created a lot of very rich

people. These people invested in industries after the fall of the

Soviet Union and now Russia has over 100 billionaires and

Moscow has more than any other city in the world but it's not only

the rich in Russia who are benefiting from the oil.

Retail sales are growing and multinational companies are now

competing to invest in Russia. New shopping malls are now

spreading beyond Moscow to the rest of Russia.

However, there is a problem with relying on natural resources for

economic growth. The oil is running out fast it is predicted that the

oil will only last for another 30 to 40 years. However, Russian oil

has restarted an economy which was in crisis and brought wealth

and economic stability to the country.