Russian Federation

What effects have sanctions had on the Russian economy?

The war and the sanctions have already affected the Russian economy.

The war and the sanctions have already affected the Russian economy. Image: Unsplash/Egor Filin

Heli Simola
Senior Economist, Institute for Emerging Economies, Bank Of Finland
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Loss of foreign direct investment has been identified as potentially one of the most devastating consequences of sanctions for the Russian economy (Mahlstein et al. 2022).
Loss of foreign direct investment has been identified as potentially one of the most devastating consequences of sanctions for the Russian economy (Mahlstein et al. 2022). Image: Macrobond and Bank of Russia

Graphic showing Russia’s goods imports based on official data and proxy constructed from mirror statistics.
Russian imports are estimated to have contracted substantially. Image: Macrobond, Eurostat and BOFIT
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There is plenty of evidence that war and sanctions have affected the performance of the Russian economy.
There is plenty of evidence that war and sanctions have affected the performance of the Russian economy. Image: Macrobond and Rosstat

Transition periods and other measures mitigate the harms of sanctions on sanctioning countries and global markets but simultaneously blunt their impact on the Russian economy.
Transition periods and other measures mitigate the harms of sanctions on sanctioning countries and global markets but simultaneously blunt their impact on the Russian economy. Image: IMF October WEO from respective years
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Russian FederationEconomic ProgressBanking and Capital Markets
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