Business and Personal Law

Chapter 21: Insurance and Estate Planning

Global Law

Russia

In December 1991 the former Union of Soviet Socialist Republics (USSR) officially split, and 11 of its 15 republics formed the Commonwealth of Independent States (CIS). Russia is the largest of those states. Since 1991, Russia has struggled as it has attempted to build a democratic political system and market economy. Russia is located in northern Asia, with the Arctic Ocean to the north, Europe in the west, and the North Pacific Ocean to the east. It is more than 1.5 times the size of the United States. Ninety-eight percent of the population is literate.

The government of Russia is federalist. The chief of state is the president, who is also the head of government. The president is elected by popular vote to a four-year term. There is no vice president. If the president should die or get sick, the premier takes over until a new presidential election is held. The president appoints the cabinet, which is composed of the premier, his deputy, the heads of the government ministries, and other selected individuals. The Federal Assembly is made up of the Federation Council, with two representatives from each of Russia's 89 administrative regions, and the State Duma, a 450-member lower house. The terms for the Federation Council are not fixed; terms for the State Duma are four years.

The legal system is based on a civil law system. The Federation Council on the recommendation of the president appoints the Constitutional Court, Supreme Court, Superior Court of Arbitration, and the judges for all courts for life.