Given below are two statements:

Statement I: Russia started reviving in 2000, ten years after their independence. Azerbaijan, Kazakhstan, Russia, Turkmenistan and Uzbekistan are major oil and gas producers.

Statement II: The reason for the revival for most of their economies was the export of natural reservoirs like oil, natural gas and minerals.

In the light of the above statements, choose the correct answer from the options given below:

Both Statement I and Statement II are true

The correct answer is Option 1 - Both Statement I and Statement II are true

Statement I: Russia started reviving in 2000, ten years after their independence. Azerbaijan, Kazakhstan, Russia, Turkmenistan and Uzbekistan are major oil and gas producers. (TRUE)

Statement II: The reason for the revival for most of their economies was the export of natural reservoirs like oil, natural gas and minerals. (TRUE)

EXPLANATION:

"The construction of democratic institutions was not given the same attention and priority as the demands of economic transformation. The constitutions of all these countries were drafted in a hurry and most, including Russia, had a strong executive president with the widest possible powers that rendered elected parliaments relatively weak. In Central Asia, the presidents had great powers, and several of them became very authoritarian. For example, the presidents of Turkmenistan and Uzbekistan appointed themselves to power first for ten years and then extended it for another ten years. They allowed no dissent or opposition. A judicial culture and independence of the judiciary was yet to be established in most of these countries.

Most of these economies, especially Russia, started reviving in 2000, ten years after their independence. The reason for the revival for most of their economies was the export of natural resources like oil, natural gas and minerals. Azerbaijan, Kazakhstan, Russia, Turkmenistan and Uzbekistan are major oil and gas producers. Other countries have gained because of the oil pipelines that cross their territories for which they get rent. Some amount of manufacturing has restarted."

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