President Yeltsin unexpectedly resigns on December 31,…

President Yeltsin unexpectedly resigns on December 31, 1999, handing the post to the recently appointed prime minister and his chosen successor, Vladimir Putin.

Yeltsin leaves office widely unpopular, with an approval rating as low as two percent by some estimates.

Putin next wins the 2000 presidential election, and suppresses the Chechen insurgency.

Putin goes on to win a second presidential term in 2004.

As a result of high oil prices, a rise in foreign investment, and prudent economic and fiscal policies, the Russian economy grows significantly; dramatically improving Russia's standard of living, and increasing its influence in global politics.

Putin's rule increases stability, while transforming Russia into an authoritarian state.