One way to write two paragraphs with this set of vocabulary would be to write at is you were to be writing a history paper in a chronological style. The vocabulary that you have listed follows the evolution of the Russian Empire into the Soviet Union and then into the beginning of the current Russian Federation.
I would recommend first by defining each of these vocabulary terms on their own and the separating the vocabulary into different sections and finding ways to combine them. For example, the first two words are Czar and Abdicate. Based on the rest of the vocabulary I would start the first paragraph off describing the Czar Nicholai II Alexandrovitch Romanov who was the last of the Romanov dynasty and was forced to abdicate in March 1917 due to WWI and Russian Revolution.
After the abdication the Soviets took hold and implemented a different style of economy compared to the previous empire. Do a bit of research into how the Russian Empire’s economy was different than what the Soviet command economy was and you could compare those.
From here a bit of research into the economy of Russia after WWII and particularly during the Brezhnev premiership. Under Brezhnev there was a stagnation which along with other factors led to Mikhail Gorbachev enacting a series of reforms, Glasnost (which was a policy of more open government and sharing of information) and Perestroika (a policy of widespread restructuring and reforming the economy and political system). A bit of research here would enable you to tie those two policies into the collapse of the Soviet Union and into 1991 when the Ruble was created. During the early post-Soviet time period the black market was in full swing due to the collapse of the command economy that had been running for so long.
By using this chronology as a guideline with a bit of research makes it so that two paragraphs about the history of the rise and fall of Russia during the 20th century should be clearer.