From sanctions to price surges: The dynamics of Russia's import prices

Iikka Korhonen and Heli Simola

No 8/2025, BOFIT Discussion Papers from Bank of Finland Institute for Emerging Economies (BOFIT)

Abstract: We examine impact of economic sanctions on Russian import prices using detailed data on other countries' exports to Russia. We find that unit import prices of goods sanctioned by trading blocs such as the European Union have increased, often drastically, and even when imported to Russia from countries that have not formally imposed sanctions on Russia. For some countries, the unit export prices to Russia for non-sanctioned goods have also risen. These results strongly suggest that trade sanctions have been effective in limiting Russia's access to sanctioned goods.

Keywords: Sanctions; foreign trade; Russia (search for similar items in EconPapers)
JEL-codes: F12 F14 F51 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:bofitp:333422

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