Russia's Redesigned Economic Plans

Members of the Kremlin elite had forged two plans meant to modernize and strengthen the Russian economy for the future. The twin modernization and privatization programs were to depend largely on foreign expertise and investment, particularly investment from the Europeans, who are Russia's most important trade partners. However, the European economic crisis and political instability inside Russia have complicated matters, making investment less likely. Thus, the Kremlin is reformulating its plans to better suit the current circumstances.