Economy of the EAEU Countries under Anti-Russian Sanctions

Экономика стран ЕАЭС в условиях антироссийских санкций

Nadezhda Volovik

Russian Economic Development, 2022, issue 11, 20-27

Abstract: In the World Bank’s spring report, it was expected that most of the Commonwealth of Independent States (CIS) countries with close trade ties with Russia would be hit hard by Russia’s falling economy on the back of the huge number of harsh sanctions imposed on Russia. However, most of the Commonwealth countries demonstrate notable resilience to geopolitical aggravation. Armenia, Kazakhstan and Kyrgyzstan, members of the EAEU, have benefited from a surge in remittances and the number of citizens leaving Russia. Kazakhstan has additional income from oil and gas as a result of higher prices and increased exports. The Belarusian economy, which is under sanctions, showed negative growth.

Keywords: EAEU countries; CIS; Russia; sanctions (search for similar items in EconPapers)
JEL-codes: E20 E22 E23 E31 E52 (search for similar items in EconPapers)
Date: 2022
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