Renovation Work At The Sayan-Shushenskaya GES, Russia

• Russian Federation
Boris Yeltsin was elected the President of Russia in June 1991, in the first direct presidential election in Russian history. During and after the Soviet disintegration, wide-ranging reforms including privatisation and market and trade liberalization were being undertaken, including the radical changes along the lines of "shock therapy" as recommended by the United States and International Monetary Fund. All this resulted in a major economy crisis, characterized by 50% decline of both GDP and industrial output between 1990–95.
The privatization largely shifted control of enterprises from state agencies to individuals with inside connections in the government system. Many of the newly rich businesspeople took billions in cash and assets outside of the country in an enormous capital flight. The depression of state and economy led to the collapse of social services; the birth rate plummeted while the death rate skyrocketed. Millions plunged into poverty, from 1.5% level of poverty in the late Soviet era, to 39–49% by mid-1993. The 1990s saw extreme corruption and lawlessness, rise of criminal gangs and violent crime.
The 1990s were plagued by armed conflicts in the Northern Caucasus, both local ethnic skirmishes and separatist Islamist insurrections. Since the Chechen separatists had declared independence in the early 1990s, an intermittent guerrilla war was fought between the rebel groups and the Russian military. Terrorist attacks against civilians carried out by separatists, most notably the Moscow theater hostage crisis and Beslan school siege, caused hundreds of deaths and drew worldwide attention.