Russia's current economy can be described as a mixed economy with elements of both market-based capitalism and state-directed planning. While the country has made efforts to transition towards a market economy since the collapse of the Soviet Union, the state still plays a significant role in various sectors, such as energy, defense, and strategic industries. There is also a high level of state involvement in the banking sector. However, Russia faces challenges such as corruption, limited diversification, and dependency on oil and gas exports, which can impact its overall economic stability.
