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In 1993 a series of economic reforms began to go into effect, initially enacted to offset the economic imbalances which was a result of the dissolution of the Soviet Union in 1991. [202] The main aspect of these reforms was to legalize the then illegal U.S. Dollar and regulate its usage in the island's economy. [203]
The history of the Soviet Union from 1982 through 1991 spans the period from the Soviet leader Leonid Brezhnev's death until the dissolution of the Soviet Union. Due to the years of Soviet military buildup at the expense of domestic development, and complex systemic problems in the command economy, Soviet output stagnated.
The Soviet Union had a transitional government in 1991, during the fall of communism. Every republic in the union had growing nationalism until Christmas of 1991 when Mikhail Gorbachev, the General Secretary of the Communist Party of the Soviet Union and President of the Soviet Union, abandoned the Union at the time of its dissolution. The ...
The time period of around 1985–1991 marked the final period of the Cold War.It was characterized by systemic reform within the Soviet Union, the easing of geopolitical tensions between the Soviet-led bloc and the United States-led bloc, the collapse of the Soviet Union's influence in Eastern Europe, and the dissolution of the Soviet Union in 1991.
After the dissolution of the USSR on 26 December 1991, all former Soviet Union property was automatically transferred to Russian ownership. [26] On 2 April 1992, Russia declared itself the sole legal successor to all debts of the former USSR and pledged to repay them in full, while receiving rights to all financial and material assets of the USSR.
The Agreement on the creation the Commonwealth of Independent States (officially), or unofficially Minsk Agreement [1] [2] and best known as Belovezha Accords, [a] is the agreement declaring that the Union of Soviet Socialist Republics (USSR) had effectively ceased to exist and establishing the Commonwealth of Independent States (CIS) in its place as an organization created by the same Union ...
This is a list of the violent political and ethnic conflicts in the countries of the former Soviet Union following its dissolution in 1991. Some of these conflicts such as the 1993 Russian constitutional crisis or the 2013–2014 Euromaidan protests in Ukraine were due to political crises in the successor states. Others involved separatist ...
In 1991, the Soviet Union was in a severe economic and political crisis. Scarcity of food, medicine, and other consumables was widespread, [ 15 ] people had to stand in long lines to buy even essential goods, [ 16 ] fuel stocks were as much as 50% lower than the estimated amount needed for the approaching winter, and inflation exceeded 300% per ...