Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
has an upper-middle income
[ ] mixed economy
A mixed economy is variously defined as an economic system blending elements of a market economy with elements of a planned economy, markets with state interventionism, or private enterprise with public enterprise. Common to all mixed economi ...
with
state ownership
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownershi ...
in strategic areas of the economy. Market reforms in the 1990s privatized much of Russian industry and
agriculture
Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people to ...
, with notable exceptions to this privatization occurring in the
energy
In physics, energy (from Ancient Greek: ἐνέργεια, ''enérgeia'', “activity”) is the quantitative property that is transferred to a body or to a physical system, recognizable in the performance of work and in the form of heat a ...
and defense-related sectors.
Russia's vast geography is an important determinant of its economic activity, with some sources estimating that Russia contains over 30 percent of the world's natural resources.
The
World Bank
The World Bank is an international financial institution that provides loans and grants to the governments of low- and middle-income countries for the purpose of pursuing capital projects. The World Bank is the collective name for the Interna ...
estimates the total value of Russia's natural resources at US$75 trillion. Russia relies on energy revenues to drive most of its growth. Russia has an abundance of
petroleum
Petroleum, also known as crude oil, or simply oil, is a naturally occurring yellowish-black liquid mixture of mainly hydrocarbons, and is found in geological formations. The name ''petroleum'' covers both naturally occurring unprocessed crud ...
,
natural gas
Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbo ...
and
precious metals
Precious metals are rare, naturally occurring metallic chemical elements of high economic value.
Chemically, the precious metals tend to be less reactive than most elements (see noble metal). They are usually ductile and have a high lustre. ...
, which make up a major share of Russia's exports. the oil-and-gas sector accounted for 16% of the
GDP
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced and sold (not resold) in a specific time period by countries. Due to its complex and subjective nature this measure is often ...
, 52% of federal budget revenues and over 70% of total exports.
Largest firms
State-owned enterprise
A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...
Historical rankings
1995#
RAO UES
OAO RAO UES (OAO Unified Energy System of Russia; russian: ЕЭС России or russian: Единая Энергетическая Система) was an electric power holding company in Russia. It controlled about 70% of Russia's installed el ...
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Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the larges ...
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LUKoil
The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petrol ...
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Rosugol
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Rosneft
PJSC Rosneft Oil Company ( stylized as ROSNEFT) is a Russian Vertical integration, integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, Extraction of petroleum, extraction, production, refining, Petroleum t ...
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Norilsk Nickel
Norilsk Nickel (russian: ГМК «Норильский никель»), or Nornickel, is a Russian nickel and palladium mining and smelting company. Its largest operations are located in the Norilsk–Talnakh area near the Yenisei River in the no ...
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YUKOS
OJSC "Yukos Oil Company" (russian: ОАО Нефтяна́я Компа́ния Ю́КОС, links=no, ) was an oil and gas company based in Moscow, Russia. Yukos was acquired from the Russian government by Russian oligarch Mikhail Khodorkovs ...
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Siberian-Far Eastern Oil Company (Sidanko)
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Surgutneftegas
Surgutneftegas ( rus, ПАО «Сургутнефтегаз», p=sʊrɡʊtnʲɪftʲɪˈɡas) is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The ...
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AvtoVAZ
AvtoVAZ ( rus, АвтоВАЗ, p=ɐftoˈvas) is a Russian automobile manufacturing company owned by the state. It was formerly named as VAZ ( rus, ВАЗ), an acronym for Volga Automotive Plant in Russian (russian: Во́лжский автомо ...
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Severstal
Severstal (russian: Северсталь, , Northern Steel) is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company ...
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Magnitogorsk Iron and Steel Works
Magnitogorsk Iron and Steel Works (russian: Магнитогорский металлургический комбинат, Magnitogorskiy Metallurgicheskiy Kombinat), abbreviated as MMK, is an iron and steel company located in the city of Magnit ...
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Novolipetsk Steel
Novolipetsk Steel, or NLMK, is one of the four largest steel companies in Russia. NLMK's share of domestic crude steel production is about 21%. It primarily produces flat steel products, semi-finished steel products and electrical steels. NLMK a ...
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GAZ
GAZ or Gorkovsky Avtomobilny Zavod (russian: ГАЗ or Го́рьковский автомоби́льный заво́д, , Gorky Automobile Plant) is a Russian automotive manufacturer located in Nizhny Novgorod, formerly known as Gorky (Го ...
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Eastern Oil Company
Eastern may refer to:
Transportation
*China Eastern Airlines, a current Chinese airline based in Shanghai
* Eastern Air, former name of Zambia Skyways
* Eastern Air Lines, a defunct American airline that operated from 1926 to 1991
*Eastern Air ...
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Alrosa
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Nizhny Tagil Iron and Steel Works
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Tatneft
Tatneft (russian: публичное акционерное общество «Татнефть» имени В.Д. Шашина or ПАО «Татнефть» им. В.Д. Шашина; traded as: (ordinary shares), (preferred shares), (ADRs)) ...
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West-Siberian Metal Plant
West-Siberian Metal Plant ''(Russian: Западно-Сибирский металлургический комбинат)'' is a metal plant in the city of Novokuznetsk in Kemerovo Oblast in southwestern Siberia, founded on 27 July 1964. The West- ...
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Kuznetsk Iron and Steel Works2000#
Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the larges ...
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LUKoil
The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petrol ...
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RAO UES
OAO RAO UES (OAO Unified Energy System of Russia; russian: ЕЭС России or russian: Единая Энергетическая Система) was an electric power holding company in Russia. It controlled about 70% of Russia's installed el ...
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Surgutneftegas
Surgutneftegas ( rus, ПАО «Сургутнефтегаз», p=sʊrɡʊtnʲɪftʲɪˈɡas) is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The ...
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Norilsk Nickel
Norilsk Nickel (russian: ГМК «Норильский никель»), or Nornickel, is a Russian nickel and palladium mining and smelting company. Its largest operations are located in the Norilsk–Talnakh area near the Yenisei River in the no ...
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Bashkir Fuel Company
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YUKOS
OJSC "Yukos Oil Company" (russian: ОАО Нефтяна́я Компа́ния Ю́КОС, links=no, ) was an oil and gas company based in Moscow, Russia. Yukos was acquired from the Russian government by Russian oligarch Mikhail Khodorkovs ...
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AvtoVAZ
AvtoVAZ ( rus, АвтоВАЗ, p=ɐftoˈvas) is a Russian automobile manufacturing company owned by the state. It was formerly named as VAZ ( rus, ВАЗ), an acronym for Volga Automotive Plant in Russian (russian: Во́лжский автомо ...
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Rosneft
PJSC Rosneft Oil Company ( stylized as ROSNEFT) is a Russian Vertical integration, integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, Extraction of petroleum, extraction, production, refining, Petroleum t ...
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Tatneft
Tatneft (russian: публичное акционерное общество «Татнефть» имени В.Д. Шашина or ПАО «Татнефть» им. В.Д. Шашина; traded as: (ordinary shares), (preferred shares), (ADRs)) ...
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Tyumen
Tyumen ( ; rus, Тюмень, p=tʲʉˈmʲenʲ, a=Ru-Tyumen.ogg) is the administrative center and largest city of Tyumen Oblast, Russia. It is situated just east of the Ural Mountains, along the Tura River. Fueled by the Russian oil and gas indu ...
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Sibneft
Gazprom Neft (russian: Газпром Нефть; formerly Sibneft, russian: Сибнефть, link=no), is the third largest oil producer in Russia and ranked third according to refining throughput. It is a subsidiary of Gazprom, which owns about ...
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Alrosa
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Severstal
Severstal (russian: Северсталь, , Northern Steel) is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company ...
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Slavneft
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Magnitogorsk Iron and Steel Works
Magnitogorsk Iron and Steel Works (russian: Магнитогорский металлургический комбинат, Magnitogorskiy Metallurgicheskiy Kombinat), abbreviated as MMK, is an iron and steel company located in the city of Magnit ...
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Novolipetsk Steel
Novolipetsk Steel, or NLMK, is one of the four largest steel companies in Russia. NLMK's share of domestic crude steel production is about 21%. It primarily produces flat steel products, semi-finished steel products and electrical steels. NLMK a ...
#
GAZ
GAZ or Gorkovsky Avtomobilny Zavod (russian: ГАЗ or Го́рьковский автомоби́льный заво́д, , Gorky Automobile Plant) is a Russian automotive manufacturer located in Nizhny Novgorod, formerly known as Gorky (Го ...
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Orenburgneft
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Siberian-Far Eastern Oil Company (Sidanco)
2005#
Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the larges ...
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LUKoil
The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petrol ...
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RAO UES
OAO RAO UES (OAO Unified Energy System of Russia; russian: ЕЭС России or russian: Единая Энергетическая Система) was an electric power holding company in Russia. It controlled about 70% of Russia's installed el ...
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Russian Railways
Russian Railways (russian: link=no, ОАО «Российские железные дороги» (ОАО «РЖД»), OAO Rossiyskie zheleznye dorogi (OAO RZhD)) is a Russian fully state-owned vertically integrated railway company, both manag ...
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YUKOS
OJSC "Yukos Oil Company" (russian: ОАО Нефтяна́я Компа́ния Ю́КОС, links=no, ) was an oil and gas company based in Moscow, Russia. Yukos was acquired from the Russian government by Russian oligarch Mikhail Khodorkovs ...
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TNK-BP
TNK-BP (Tyumenskaya Neftyanaya Kompaniya, Tyumen Oil Company) was a major vertically integrated Russian oil company headquartered in Moscow. It was Russia's third-largest oil producer and among the ten largest private oil companies in the world. ...
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Surgutneftegas
Surgutneftegas ( rus, ПАО «Сургутнефтегаз», p=sʊrɡʊtnʲɪftʲɪˈɡas) is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The ...
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Sibneft
Gazprom Neft (russian: Газпром Нефть; formerly Sibneft, russian: Сибнефть, link=no), is the third largest oil producer in Russia and ranked third according to refining throughput. It is a subsidiary of Gazprom, which owns about ...
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Sberbank of Russia
PJSC Sberbank (russian: Сбербанк, initially a contraction of russian: сберегательный банк, translit=sberegatelnyy bank, lit=savings bank, link=no) is a Russian majority state-owned banking and financial services compan ...
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Norilsk Nickel
Norilsk Nickel (russian: ГМК «Норильский никель»), or Nornickel, is a Russian nickel and palladium mining and smelting company. Its largest operations are located in the Norilsk–Talnakh area near the Yenisei River in the no ...
#
Svyazinvest
OJSC Svyazinvest (Russian: ОАО Связьинвест) was Russia's largest telecommunications holding company. Based in Moscow, it was founded according to Order №1297 of the Russian government on November 25, 1994, and was registered on Sep ...
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Severstal
Severstal (russian: Северсталь, , Northern Steel) is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company ...
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Slavneft
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Evraz Group
EVRAZ plc (russian: Евраз) is a UK-incorporated multinational steel manufacturing and mining company part-owned by Russian oligarchs. It has operations mainly in Russia as well as the USA, Canada, and Kazakhstan. As of 2015, the ultimate b ...
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AFK Sistema
AFK Sistema PAO is a large Russian conglomerate company, founded by Vladimir Yevtushenkov, who was chairman of the corporation's board of directors until 2022. In April, Yevtushenkov's shareholding in Sistema has decreased to 49.2%, and he also s ...
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AvtoVAZ
AvtoVAZ ( rus, АвтоВАЗ, p=ɐftoˈvas) is a Russian automobile manufacturing company owned by the state. It was formerly named as VAZ ( rus, ВАЗ), an acronym for Volga Automotive Plant in Russian (russian: Во́лжский автомо ...
#
Rusal
United Company RUSAL, international public joint-stock company (russian: МКПАО «ОК РУСАЛ», MKPAO «ОК RUSAL») is the world's second largest aluminium company by primary production output (as of 2016). It was the largest until ov ...
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Tatneft
Tatneft (russian: публичное акционерное общество «Татнефть» имени В.Д. Шашина or ПАО «Татнефть» им. В.Д. Шашина; traded as: (ordinary shares), (preferred shares), (ADRs)) ...
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Transneft
Joint Stock Company Transneft (russian: Транснефть) is a state-controlled pipeline transport company headquartered in Moscow, Russia. It is the largest oil pipeline company in the world. Transneft is operating over of trunk pipeline ...
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Magnitogorsk Iron and Steel Works
Magnitogorsk Iron and Steel Works (russian: Магнитогорский металлургический комбинат, Magnitogorskiy Metallurgicheskiy Kombinat), abbreviated as MMK, is an iron and steel company located in the city of Magnit ...
2010#
Gazprom
PJSC Gazprom ( rus, Газпром, , ɡɐzˈprom) is a Russian majority state-owned multinational energy corporation headquartered in the Lakhta Center in Saint Petersburg. As of 2019, with sales over $120 billion, it was ranked as the larges ...
#
LUKoil
The PJSC Lukoil Oil Company ( stylized as LUKOIL or ЛУКОЙЛ in Cyrillic script) is a Russian multinational energy corporation headquartered in Moscow, specializing in the business of extraction, production, transport, and sale of petrol ...
#
Rosneft
PJSC Rosneft Oil Company ( stylized as ROSNEFT) is a Russian Vertical integration, integrated energy company headquartered in Moscow. Rosneft specializes in the exploration, Extraction of petroleum, extraction, production, refining, Petroleum t ...
#
Russian Railways
Russian Railways (russian: link=no, ОАО «Российские железные дороги» (ОАО «РЖД»), OAO Rossiyskie zheleznye dorogi (OAO RZhD)) is a Russian fully state-owned vertically integrated railway company, both manag ...
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Sberbank of Russia
PJSC Sberbank (russian: Сбербанк, initially a contraction of russian: сберегательный банк, translit=sberegatelnyy bank, lit=savings bank, link=no) is a Russian majority state-owned banking and financial services compan ...
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TNK-BP
TNK-BP (Tyumenskaya Neftyanaya Kompaniya, Tyumen Oil Company) was a major vertically integrated Russian oil company headquartered in Moscow. It was Russia's third-largest oil producer and among the ten largest private oil companies in the world. ...
#
AFK Sistema
AFK Sistema PAO is a large Russian conglomerate company, founded by Vladimir Yevtushenkov, who was chairman of the corporation's board of directors until 2022. In April, Yevtushenkov's shareholding in Sistema has decreased to 49.2%, and he also s ...
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Surgutneftegaz
Surgutneftegas ( rus, ПАО «Сургутнефтегаз», p=sʊrɡʊtnʲɪftʲɪˈɡas) is a Russian oil and gas company created by merging several previously state-owned companies owning large oil and gas reserves in Western Siberia. The ...
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Holding IDGC
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Severstal
Severstal (russian: Северсталь, , Northern Steel) is a Russian company mainly operating in the steel and mining industry, headquartered in Cherepovets. Severstal is listed on the Moscow Exchange and LSE and is the largest steel company ...
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VTB Bank
VTB Bank (; formerly known as ''Vneshtorgbank'', , lit. 'International Trade Bank') is a Russian majority state-owned bank headquartered in various federal districts of Russia; its legal address is registered in Saint Petersburg, St. Peter ...
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Tatneft
Tatneft (russian: публичное акционерное общество «Татнефть» имени В.Д. Шашина or ПАО «Татнефть» им. В.Д. Шашина; traded as: (ordinary shares), (preferred shares), (ADRs)) ...
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Transneft
Joint Stock Company Transneft (russian: Транснефть) is a state-controlled pipeline transport company headquartered in Moscow, Russia. It is the largest oil pipeline company in the world. Transneft is operating over of trunk pipeline ...
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Norilsk Nickel
Norilsk Nickel (russian: ГМК «Норильский никель»), or Nornickel, is a Russian nickel and palladium mining and smelting company. Its largest operations are located in the Norilsk–Talnakh area near the Yenisei River in the no ...
#
Evraz Group
EVRAZ plc (russian: Евраз) is a UK-incorporated multinational steel manufacturing and mining company part-owned by Russian oligarchs. It has operations mainly in Russia as well as the USA, Canada, and Kazakhstan. As of 2015, the ultimate b ...
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X5 Retail Group
X5 Group (previously known as X5 Retail Group and commonly known as X5) is Russia's largest food retailer.
The company operates several retail formats: convenience stores under the Pyaterochka brand, supermarkets under the Perekrestok brand a ...
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VimpelCom
VEON Ltd. (formerly VimpelCom Ltd.) is a Dutch-domiciled multinational telecommunication services company. It predominantly operates services in the regions of Asia, Africa and Europe. It is the 13th largest mobile network operator in the world ...
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IES-Holding
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Svyazinvest
OJSC Svyazinvest (Russian: ОАО Связьинвест) was Russia's largest telecommunications holding company. Based in Moscow, it was founded according to Order №1297 of the Russian government on November 25, 1994, and was registered on Sep ...
#
Rusal
United Company RUSAL, international public joint-stock company (russian: МКПАО «ОК РУСАЛ», MKPAO «ОК RUSAL») is the world's second largest aluminium company by primary production output (as of 2016). It was the largest until ov ...
Notable firms
This list includes notable
companies
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared go ...
with primary
headquarters
Headquarters (commonly referred to as HQ) denotes the location where most, if not all, of the important functions of an organization are coordinated. In the United States, the corporate headquarters represents the entity at the center or the to ...
located in the country. The industry and sector follow the
Industry Classification Benchmark The Industry Classification Benchmark (ICB) is an industry classification taxonomy launched by Dow Jones and FTSE in 2005 and now used by FTSE International and STOXX. It is used to segregate markets into sectors within the macroeconomy. The ICB ...
taxonomy. Organizations which have ceased operations are included and noted as defunct.
See also
*
Economy of Russia
The economy of Russia has gradually transformed from a planned economy into a mixed market-oriented economy.
—Rosefielde, Steven, and Natalia Vennikova. “Fiscal Federalism in Russia: A Critique of the OECD Proposals.” Cambridge Jou ...
*
List of banks in Russia
*
Moscow Exchange
The Moscow Exchange (MOEX; rus, Московская биржа, r=Moskovskaya birzha, p=mɐˈskofskəjə ˈbʲirʐə, a=) is the largest exchange in Russia, operating trading markets in equities, bonds, derivatives, the foreign exchange market, ...
References
External links
Russian business map
{{Economy of Russia
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the ...
*