The Russian Soviet Federative Socialist Republic commonly referred to as Soviet Russia, the Russian Federation, or simply Russia, was a sovereign state in 1917–22, the largest, most populous, and most economically developed republic of the Soviet Union in 1922-91 and a sovereign part of the Soviet Union with own legislation in 1990–91. The Republic comprised sixteen autonomous republics, five autonomous oblasts, ten autonomous okrugs, six krais, and forty oblasts. Russians formed the largest ethnic group.
The RSFSR was established on November 7, 1917 (October Revolution) as a sovereign state. The first Constitution was adopted in 1918. In 1922 Russian SFSR signed the Treaty on the Creation of the USSR.
The economy of Russia became heavily industrialized, accounting for about two-thirds of the electricity produced in the USSR. It was the third largest producer of petroleum, trailing only the United States and Saudi Arabia. In 1974, there were 475 institutes of higher education in the republic providing education in 47 languages to some 23,941,000 students. A network of territorially-organized public-health services provided health care. After 1985, the restructuring policies of the Gorbachev administration relatively liberalised the economy, which had become stagnant since the late 1970s, with the introduction of non-state owned enterprises such as cooperatives. The effects of market policies led to the failure of many enterprises and total instability by 1990.
On June 12, 1990, the Congress of People's Deputies adopted the Declaration of State Sovereignty. On June 12, 1991, Boris Yeltsin was elected the first President. On December 8, 1991, heads of Russia, Ukraine and Belarus signed the Belavezha Accords. The agreement declared dissolution of the USSR by its founder states (i.e. denunciation of 1922 Treaty on the Creation of the USSR) and established the CIS. On December 12, the agreement was ratified by the Russian Parliament, therefore Russian SFSR denounced the Treaty on the Creation of the USSR and de facto declared Russia's independence from the USSR.
On December 25, 1991, the Russian SFSR was renamed the Russian Federation (Russia). On December 26, 1991, the USSR was self-dissolved by the Council of the Republics of the Supreme Soviet of the Soviet Union, which by that time was the only functioning house of Soviet parliament (the other house, Soviet of the Union, had already lost the quorum after recall of its members by the union republics). After dissolution of the USSR, Russia declared that it assumed the rights and obligations of the dissolved central Soviet government, including UN membership.