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This report examines Russia's economy, domestic politics, and foreign relations beyond the 2012 elections. Russia possesses significant economic assets and residual political capital; however, current trends suggest the country will struggle to realise its potential in the coming decade. Russia's politics and economy are increasingly stagnant, and its international influence is in gradual decline. As internal challenges grow in the next decade, Russia will become an increasing source of concern for Western policymakers, though rarely an object of direct policy.