Abstract
This paper seeks to examine and analyze Russia’s connectedness to the global economy. It does so by exploring how oil prices affect social, political and economic outcomes. The argument is that specialization in the single industry of oil and gas has made it possible for individuals to embrace corruption and cheating. The research uses literature from the Economist and the BBC in exploring Russian integration into the global economy. It denotes that low oil prices have adversely affected Russia’s position as a powerful emerging market economy. Low prices also force the Russian government on military adventures and ...