“Careful planning is required if Russia is to restructure its economy in the long term. Specifically, initiating and fostering an economic environment of competition will likely have long-term benefits for Russia’s economy. If Russia can chalk out an economic framework that allows for meaningful private competition, it can likely steer away from its dependency on the price of its hydrocarbon resources, something it has little control over.” (excerpted from, Russia: In austere times Global Economic Outlook, Q2 2016, by Lester Gunnion)