Explaining the Limited Impact of Sanctions on Russia
Demetrius Floudas
MPRA Paper from University Library of Munich, Germany
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.
Keywords: Russia; sanctions; Ukraine war; Russian economy; rouble; dollar (search for similar items in EconPapers)
JEL-codes: E58 F51 F52 H77 (search for similar items in EconPapers)
Date: 2023-10, Revised 2024-01
New Economics Papers: this item is included in nep-cis and nep-inv
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Citations:
Published in The Dismal Scientist Marshall Society: University of Cambridge.XCI(2023): pp. 4-9
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https://mpra.ub.uni-muenchen.de/122660/1/MPRA_paper_121346.pdf revised version (application/pdf)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:121346
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