As the nature of topic involves the description of current scenario of the Russian federation, so the overview will be provided discussing all the social, political and environmental factors. The Russian Federation is divided into 46 provinces, 4 autonomous okrugs, 21 republics, 9 krays, 2 federal cities, and 1 autonomous oblast. Since 7th May 2012, President Vladimir Vladimirovich PUTIN serves as the head of the state, while the government is administered by Dmitriy Anatolyevich Medvedev.
The recent political developments in the country include its relations with the United States. The U.S. Congress has already ascertained to ordain new penalties to be imposed on Russian businesses and officials as a quid-pro-quo for annulling a Cold War-era prohibition on conventional trading associations with Moscow. Few of the people in the Obama administration have proposed the discouraging alternative of developing a “democracy fund” to channelize U.S. money to the pressure groups that pose a threat to the Russian administration. Russia has been labeled by Mitt Romney as a geopolitical foe, so he has offered to disassemble the reset upon being elected. It raises a concern that regardless who wins in the U.S elections, the Russian-U.S. relations are leading towards a more challenging posture (Rojansky & Gvosdev).
Mrs. Clinton while attending the yearly Asia-Pacific Economic Cooperation summit meeting in Vladivostokhere, on behalf of President Obama welcomed Russian access to the World Trade Organization in August. Moreover it was recommended that the American government should now normalize its trade relations so that the U.S owned businesses can harvest the benefits received from the Russia’s membership that include lower tariffs for United States products. The attempt to concede Russia conventional trade status, still, has turned embroiled in legislation that would penalize Russian officials charged of perverting human rights, refusing them visas and suspending their assets. That has aroused doubts that any arrangement on annulling the Jackson-Vanik provisions can be accomplished before the United States presidential elections (Myers, and Herszenhorn). Russia has recently demanded the U.S to cease its support to groups favoring the institution of democracy within the country (Herszenhorn and Barry). Russia has experienced significant alters since the break down of the Soviet Union, proceeding from a centrally planned, globally-isolated economy to a more global and market-based economy. Russian industry is principally fragmented between worldwide competitive commodity producers. In 2011, it became leading oil producer of the world, passing by Saudi Arabia. It is the world second largest natural gas producer and bears the world's largest reserves of natural gas, the second-largest of coal, and the eighth-largest reserves of crude oil. It is the 3rd largest exporter of primary aluminum and steel. The Russian economy is also facing various challenges. As reported by the World Bank, Russia is reverberating from the worldwide recession more tardily than other developing nations in spite of high oil prices. Various factors that are contributing to the weakening of the Russian