Edit] Natural resources

Oil and natural gas pipelines in Europe

The mineral-packed Ural Mountains and the vast oil, gas, coal, and timber reserves of Siberia and the Russian Far East make Russia rich in natural resources. However, most such resources are located in remote and climatically unfavorable areas that are difficult to develop and far from Russian ports.^{[citation needed]}

Natural resources, especially oil and gas, dominate Russian exports. Oil and gas exports continue to be the main source of hard currency. The petroleum industry in Russia is one of the largest in the world. Russia has the largest reserves, and is the largest exporter, of natural gas. It has the second largest coal reserves, the eighth largest oil reserves, and is the largest exporter of oil in the world in absolute numbers.^{[citation needed]}

Per capita oil production in Russia, though, is not that high. As of 2007, Russia was producing 69.603 bbl/day per 1,000 people, much less than Canada (102.575 bbl/day), Saudi Arabia (371.363 bbl/day), or Norway (554.244 bbl/day), but more than two times more than the USA (28.083 bbl/day), or the UK (27.807 bbl/day).^[44]

Russia is also a leading producer and exporter of minerals and gold. 90% of Russian exports to the United States are minerals or other raw materials.^{[citation needed]}

Expecting the area to become more accessible as climate change melts Arctic ice, and believing the area contains large reserves of untapped oil and natural gas, on 2 August 2007, Russian explorers, in submersibles, planted the Russian flag on the Arctic seabed, staking a claim to energy sources right up to the North Pole. Reaction to the event was mixed: President Vladimir Putin congratulated the explorers for "the outstanding scientific project", while Canadian officials stated the expedition was just a public show.^[45]

Under the Federal Law "On Continental Shelf Development" upon proposal from the federal agency managing the state fund of mineral resources or its territorial offices the Russian government approves the list of some sections of the mineral resources that are passed for development without any contests and auctions, some sections of federal importance of the Russian continental shelf, some sections of the mineral resources of federal importance that are situated in Russia and stretch out on its continental shelf, some gas deposits of federal importance that are handed over for prospecting and developing mineral resources under a joint license. The Russian government is also empowered to decide on the handover of the foresaid sections of the mineral resources for development without any contests and auctions.

The Russian fishing industry is the world's fourth-largest, behind Japan, the United States, and China.^{[citation needed]}

Russia has more than a fifth of the world's forests, which makes it the largest forest country in the world^{[46] [47]}. However, according to a 2012 study by the Food and Agriculture Organization of the United Nations and the Government of the Russian Federation^[48], the considerable potential of Russian forests is underutilized and Russia's share of the global trade in forest products is less than four percent.^[49][50]

Edit] Sectors

Edit] Industry

Russia's industrial growth per year (%), 1992–2010

Russia is one of the most industrialized of the former Soviet republics. In the 2000s, Russia's industry, due to increasing demand and improved state finances, emerged from a deep crisis caused by the dissolution of the Soviet Union. However, years of low investment continue to leave their mark on the industry's capabilities and a lot of its equipment is in need of modernization.^{[citation needed]}

Besides its resource-based industries, Russia has developed large manufacturing capacities, notably in machinery. The defense and aircraft industries are important employers and are able to offer internationally competitive products for export.^{[citation needed]}

Date: 2015-12-11; view: 1003