Volga Economic Region in the context of "Republic of Kalmykia"

Kalmykia, officially the Republic of Kalmykia, is a republic of Russia, located in the Volga region of European Russia. The republic is part of the Southern Federal District, and borders Dagestan to the south and Stavropol Krai to the southwest; Volgograd Oblast to the northwest and north and Astrakhan Oblast to the north and east; Rostov Oblast to the west and the Caspian Sea to the east. Through the Caspian Depression, the Kuma river forms Kalmykia's natural border with Dagestan. Kalmykia is the only polity within Europe where the Dharmic religion of Buddhism is the predominant religion; the majority of Kalmyk people are Vajrayana Tibetan Buddhists of the Gelug and Kagyu lineages.

The Kalmykia republic covers an area of 76,100 square kilometres (29,400 square miles), with a small population of about 275,000 residents. The republic of Kalmykia is home of the Kalmyks, a people of Oirat Mongolian origin who are mainly of Tibetan Buddhist faith. The capital of the republic is the city of Elista.

Russia is divided into twelve economic regions — groups of federal subjects sharing the following characteristics:

• Common economic and social goals and participation in development programs;
• Relatively similar economic conditions and potential;
• Similar climatic, ecological, and geological conditions;
• Similar methods of technical inspection of new construction;
• Similar methods of conducting customs oversight;
• Overall similar living conditions of the population.

No federal subject can belong to more than one economic region.