The consequences of the Western financial sanctions on the Russian economy
The consequences of the Western financial sanctions on the Russian economy

Author(s): Maria Domańska, Szymon Kardaś
Subject(s): Governance, Economic policy, Developing nations, Geopolitics
Published by: OSW Ośrodek Studiów Wschodnich im. Marka Karpia
Keywords: financial sanctions; Russian economy
Summary/Abstract: Although they are not the deciding factor, the Western financial sanctions are nevertheless an important factor affecting the deteriorating economic situation in Russia. They have significantly undermined the opportunities which Russian companies have to attract foreign capital, thus contributing to the deterioration of their financial condition (which is particularly prominent in the case of energy firms subject to sanctions). Therefore, Russian businesses need more support from the state. However, this support is becoming more difficult due to the dramatic fall in oil prices – revenues from oil exports are the main source of budget revenue.

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