<Tr> <Th> Foreign reserves </Th> <Td> $453 billion (2018 est .) </Td> </Tr> <Tr> <Td_colspan="2"> Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars . </Td> </Tr> <P> Russia has an upper - middle income mixed economy with state ownership in strategic areas of the economy . Market reforms in the 1990s privatized much of Russian industry and agriculture, with notable exceptions to this privatization occurring in the energy and defense - related sectors . </P> <P> 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 estimates the total value of Russia's natural resources at $75 trillion US dollars . Russia relies on energy revenues to drive most of its growth . Russia has an abundance of oil, natural gas and precious metals, which make up a major share of Russia's exports . As of 2012 the oil - and - gas sector accounted for 16% of GDP, 52% of federal budget revenues and over 70% of total exports . Russia is considered an "energy superpower". It has the world's largest proven natural gas reserves and the largest exporter of natural gas . It is also the second - largest exporter of petroleum . </P>

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