Shock therapy privatization in Russia, 101 and videos of the collapse of the USSR

In December 1991, President Gorbachev declared his resignation. This was the end of Soviet Union. Boris Yeltsin was elected a president of Russia. A group of economic reformers from his pool began a course of shock therapy. They started to dismantle the centralized Soviet economy. In January 1992, prices of all goods and services were released. Six months later, Yeltsin passed the law for immediate privatization of 80% of state enterprises, from shoes factories to oil refineries.

 

Stock footage featuring Russian Crisis of 1991.
 
At tvdata.tv footage archive, we have hours of videos featuring the Cause of the crisis – the collapse of the USSR. Shocking and disturbing stock footage filmed during the transition from a planned economy to a market economy.
 

 
By the early 1990s, the Soviet planned economy had been in decline for several years. The lack of reforms, which had to be started back in the 1960s, had an effect. In the 1980s, the USSR exported oil and bought food and consumer goods with this money, so the decline in oil prices was an additional blow. In 1985, the USSR first experienced a budget deficit, which increased in subsequent years and reached 10% of GDP in 1988. The deficit was financed by foreign loans, the sale of gold and foreign exchange reserves and loans from the Central Bank to the union government.
 
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Central Moscow Drone Photo or video cost, 60000 rub or £600 for half day of work

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Available video resolution and footage formats are  5.4K at 30 fps and  4K Ultra HD at 60 fps.

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