The Cold War made many economic problems for all the people involved in the war. Russia had a lot of economic challenges after the war. When Mikhail Gorbachev was elected president, he preached about the need for radical reforms. These reforms would restructure the economy. The economic policy he was envisioning was to have limited free enterprise. This would allow some businesses to be privately owned and operated. But to do this he would have to set political reforms as well. This would mean reconstructing the entire government.
Russia was transformed after Mikhail Gorbachev took power.
After Mikhail Gorbachev resigned in 1991, Boris Yeltsin took command of Russia. He wants to introduce a free market as fast as possible, but this was not easy. Economic hardships were made worse. After Yeltsin resigned Vladimir Putin was elected. He launched reforms to boost growth and tax cuts. But the business climate remained uncertain, which stifled foreign investment.