By:Jayquan Pittman

The 2014–15 Russian Financial Crisis and the associated shrinking of the Russian economy is the result of the collapse of the Russian ruble beginning in the second half of 2014. A decline in confidence in the Russian economy caused investors to sell off their Russian assets, causing a decline in the value of the Russian ruble and sparking fears of a Russian financial crisis. The lack of confidence in the Russian economy stemmed from at least two major sources. The first is the fall in the price of oil in 2014. Crude oil, a major export of Russia, declined in price by nearly 50% between its yearly high in June 2014 and 16 December 2014. The second is the result of international economic sanctions imposed on Russia following Russia's annexation of Crimea and Russian military intervention in Ukraine.Russian President Vladimir Putin accused the Western nations of engineering the Russian economic crisis. He has also said, "Our (Western) partners have not stopped. They decided that they are winners, they are an empire now and the rest are vassals and they have to be driven into a corner."

The crisis has affected the Russian economy, both consumers and companies, and regional financial markets particularly Putin's ambitions regarding a Eurasian Economic Union. The Russian stock market in particular has experienced large declines, with a 30% decline in the RTS Index from the beginning of December through 16 December.

Russia is a federal presidential republic.The executive power is split between the President and the Prime Minister, but the President is the dominant figure.
The legislature is represented by the Federal Assembly of Russia.
It has two chambers: the State Duma – the lower house, and the Federation Council – the upper house.
The judicial power is vested in courts and administered by the Ministry of Justice.

President Vladimir Putin

The President is the head of state and is elected by popular vote every six years for a maximum of two consecutive terms.
The President’s working residence is in the Moscow Kremlin.
The President determines the basic domestic and foreign policy, is the commander-in-chief of the armed forces, can veto legislative bills, resolves issues of citizenship of the Russian Federation, awards state decorations and grants pardons.

The Executive

The Prime Minister is appointed by the President with the approval of the Duma and is first-in-line to the presidency in the case of the President's death or resignation.
Historically the role of Prime Minister has been very much subservient to that of the President.
  However, this situation changed in March 2008 when Vladimir Putin stepped down as President - as he was constitutionally required to do - and became Prime Minister while the First Deputy Prime Minister Dmitry Medvedev stepped up to the Presidency.
In May 2012, Putin returned to the Presidency and former President Medvedev became Prime Minister in an exchange of roles.

The State Duma

The lower house in the Russian Federal Assembly is the State Duma.
It's the more powerful house, of all bills, even those proposed by the Federation Council, must first be considered by the Duma.
However, the Duma's power to force the resignation of the Government is severely limited.
It may express a vote of no confidence in the Government by a majority vote of all members of the Duma, but the President is allowed to disregard this vote.
The Duma has 450 members who are known as deputies.
Formerly seats in the Duma were elected half by proportional representation (with at least 5% of the vote to qualify for seats) and half by single member districts.
President Putin passed a decree that from the November 2007 election all seats are to be elected by proportional representation with at least 7% of the vote to qualify for seats.
This 7% threshold is one of the highest in Europe and, by introducing this, Putin eliminated independents and made it effectively impossible for small parties to be elected to the Duma.
Also the registration process for candidates in elections is complicated, so that only very few of the parties that want to field candidates are allowed to do so.
All these points have been highlighted by critics of the Russian system of politics.
Under the original 1993 constitution, elections were held every four years but, in November 2008, the constitution was amended to make the Duma's term five years.
The last Duma election was held in December 2011, so the next one is to be held in December 2016. Turnout in that election was only 60%.
The Duma is headquartered in central Moscow, a few steps from Manege Square.

The Government

Government duties are split between numbers of ministries.
The head of government, the prime minister, is appointed by the president and confirmed by the State Duma.
The government is located in the White House in Moscow.
The government ensures implementation of domestic and foreign policy, works out the federal budget, oversees the implementation of financial and monetary policy, ensures the rule of law, human rights and freedoms.

The Parliament

The Federal Assembly makes federal law, approves treaties, declares war and has the power of the purse.
Both its chambers are located in Moscow.

The Federation Council

The Federation Council of Russia is the upper house of the Russian Parliament.
Created by the 1993 constitution, it was to act as a voice of Russia’s federated entities.
The Council has explicitly stated that no political factions are to exist in the upper house.
Unlike the State Duma, the Council isn’t directly elected.
It consists of representatives of Russia’s federal entities – each has two.
One is elected by the entity’s legislature; the other is nominated by the entity’s head.
The terms of the members aren’t nationally fixed, but depend on the terms of the regional bodies that chose them.
The Council works with the lower chamber to complete and vote on draft laws.
But the Federation Council also has special powers of its own, including the declaration of a presidential election, impeachment of the President and decisions on the use of the armed forces outside Russia’s territory.

The Judiciary Roman Empire Building

The Judiciary of Russia interprets and applies the law of Russia.
The Constitution and law of it's hierarchical structure with the Constitutional Court, Supreme Court, and Supreme Court of Arbitration at the apex.
The district courts are the primary criminal trial courts, and the regional courts are the primary appellate courts.
The judiciary is governed by the all Russian Congress of Judges and its Council of Judges, and its management is aided by the Judicial Department of the Supreme Court, the Judicial Qualification Collegia, the Ministry of Justice, and the various courts' people.
And although there are many officers of the court, including jurors, the Prosecutor General remains the most powerful component of the Russian judicial system.
The judiciary faces many problems and a widespread lack of confidence but has also made much progress in recent times.
There have been serious violations of the accepted separation of powers doctrine, systematic attempts to undermine jury trials, problems with access to justice, problems with court infrastructure and financial support, and corruption.
But the judiciary has also seen a fairer and more efficient administration, a strengthening of the rule of law, moves towards a more adversarial system, and increased utilization of the justice system under Putin.

Russia's Laws on Child Labour

Working children, ages 7 to 14.
School attendance, ages 5 to 14.
Children combining work and school, ages 7 to 14, such as activities like Street work, such as collection of bottles or other waste, washing cars, and street sweeping .
Working at marketplaces activities (ages 10-12).Working as dishwashers