Russia is the largest country in the world, so it isn’t surprising that Russia’s natural resources are among the most abundant in the world too.
In particular, Russia is rich in raw materials such as oil and gas, coal, iron ore, gold and diamonds. This richness is probably one of the main reasons why the Russian economy today is dominated by the export of raw materials, and it doesn’t have a particularly well balanced economy.
Russian Oil
Russia has massive oil reserves – the eighth largest in the world. Estimates vary between 60 and 200 billion barrels. Although much of the oil is located in Siberia, Russia has today become the world’s largest oil producer – in 2009, it produced an average of 10 million barrels of oil every day.
Russian Natural Gas
Russia also has huge natural gas reserves, enough to allow it to produce 17% of all the world’s natural gas in 2008. It is able to export most of this gas thanks to a pipeline network that extends into Western Europe. Such is the extent of gas exports that Gazprom, the largest Russian gas company, contributed 10% of Russian GDP in 2008.
Russian Coal
Russia has the world’s second largest coal reserves – an estimated 175 billion tonnes – mostly located in the Ural Mountains region. Already one of the world’s major coal producing countries, Russia has plans to increase its domestic coal usage, so that it can export more profitable oil and gas.
Russian Diamonds
Russia is one of the world’s largest diamond producers, and has been ever since just after the second world war, when the Soviet Union realised its military uses. Most Russian diamonds are concentrated in the Sakha Republic, many near the town of Mirny, famous for its massive open cast mine – a mine so big that it dwarfs the nearby town. Russian diamond mining today accounts for around a quarter of global diamond production. Sales of diamonds in 2009 were a staggering $1.3 billion.
Russian Forests
Russia’s forests are the biggest in the world, and make up 22% of the world’s total forest cover. They are spread across the entire country (although mostly in Siberia and the Far East) and, in total, cover an area larger than the United States. The sheer volume of forests in Russia means that ecological considerations are often not at the forefront of peoples’ minds, and many forests are very heavily cut. As you would imagine, the Russian logging industry is, therefore, massive. Because of its less glamorous nature, it also has strong links to criminal gangs.
Russian Water
Russia has abundant freshwater reserves in its lakes, particularly in Lake Baikal, which alone holds approximately 80% of the freshwater in Russia, and 22% of the world’s total freshwater. Sadly, much of Russia’s accessible freshwater is polluted and not safe for drinking without treatment.
The large number of rivers in Russia enables the country to harness hydro-electric power. As a result, there are many dams and hydro-electric power stations scattered across Russia.
About Andy Young
