The Impact of Anti-Russian Sanctions on EU Economy

Andrey Nikolaevich Spartak and Vitalij Vital’evich Frantsuzov
Additional contact information
Andrey Nikolaevich Spartak: Russian Market Research Institute, Moscow, Russia
Vitalij Vital’evich Frantsuzov: Russian Foreign Trade Academy, Moscow, Russia

Russian Foreign Economic Journal, 2022, issue 12, 7-17

Abstract: Anti-Russian sanctions and overall deterioration of conditions for trade with Russia have a negative impact not only on Russia, but also on Europe and the global economy. The negative effects of the current geopolitical landscape have proven painful for economic growth to larger extent of the European countries dependent on Russian energy supplies and which have significant business interests in Russian. Specific manifestations of the crisis include a severe economic slowdown that might drive European economies into recession, significant energy sector challenges, decline in living standards and higher inequality due to record inflation caused by soaring pricing for energy, food, and many other goods and services, persistent large budget deficits and worsening terms of external trade settlements. Among the most affected by the sanctions policy and confrontation with Russia are almost all Central and Eastern European countries, Germany and Italy.

Keywords: sanctions; European countries; European Union; infl uence; economy; GDP; infl ation; state budget; defi cit (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

Downloads: (external link)
http://repec.vavt.ru/RePEc/alq/rufejo/rfej_2022_12_7-17.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:alq:rufejo:rfej_2022_12_7-17

DOI: 10.24412/2072-8042-2022-12-7-17

Access Statistics for this article

More articles in Russian Foreign Economic Journal from Russian Foreign Trade Academy Ministry of economic development of the Russian Federation Contact information at EDIRC.
Bibliographic data for series maintained by Irina Katolik ().