Explaining the Limited Impact of Sanctions on Russia

Floudas, Demetrius (2023): Explaining the Limited Impact of Sanctions on Russia. Published in: The Dismal Scientist , Vol. XCI, No. Marshall Society: University of Cambridge (2023): pp. 4-9.

Abstract

Upon the commencement of Russia's military intervention in Ukraine in February 2022, a collective response was swiftly initiated by the United States, the European Union, G7 nations, and their allies. This materialised in the form of an unparalleled assemblage of economic, financial, diplomatic, and supplementary sanctions, which have been undergoing successive modifications and additions throughout the ensuing months.

Initially, Western analysts forecast dire repercussions for Russia, with some predicting a double-digit decline in gross domestic product. However, actual projections have been significantly revised downward.

This paper aims to enumerate and explain in brief the factors that have prevented the Russian economy from a momentous downturn, in spite of the unprecedented extent of imposed sanctions.

• Item Type: MPRA Paper
• Language: English
• Keywords: Russia, sanctions, Ukraine war, Russian economy, rouble, dollar
• Subjects: E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies; F - International Economics > F5 - International Relations, National Security, and International Political Economy > F51 - International Conflicts ; Negotiations ; Sanctions; F - International Economics > F5 - International Relations, National Security, and International Political Economy > F52 - National Security ; Economic Nationalism; H - Public Economics > H7 - State and Local Government ; Intergovernmental Relations > H77 - Intergovernmental Relations ; Federalism ; Secession

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