Boris Yeltsin Was Elected President of Russia

On 12 June 1991 he was elected president of the Russian Soviet Federative Socialist Republic with 57% of the vote, becoming the first popularly elected president.Following the dissolution of the Soviet Union in December 1991, Yeltsin, vowing to transform Russia's socialist command economy into a free market economy, approved price liberalization and privatization programs. Due to the method of privatization, a good deal of the national wealth fell into the hands of a small group of people. The Yeltsin era was marked by widespread corruption, economic collapse, and enormous political and social problems.