Overview

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1998: the ruble collapses and Russia's GDP is down by 40% from its level in 1991

1999: Yeltsin resigns and appoints Vladimir Putin as his successor

2001: Russia's share of the world's gross domestic product is only 1% 2002: Russia becomes an ally of NATO

2003: between 1999 and 2003, Russia economy has grown by about 33%

2005: a Caspian oil pipeline opens that bypasses both Russia and the Arab countries

2005: Russia ends its de facto dollar peg and aligns the rouble with the euro

2007: Vladimir Putin's party wins more than 60% of the vote in parliamentary elections

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