The Russian Economy: the Impact of Sanctions and Falling Oil Prices, and the Prospects for Future Growth

Author(s): Julian Cooper
Editor(s): Stephen Aris, Matthias Neumann, Robert Orttung, Jeronim Perovic, Heiko Pleines, Hans-Henning Schröder, Aglaya Snetkov
Series: Russian Analytical Digest (RAD)
Issue: 160
Pages: 2-4
Publisher(s): Center for Security Studies (CSS), ETH Zurich; Research Centre for East European Studies, University of Bremen; Institute for European, Russian and Eurasian Studies, George Washington University
Publication Year: 2014

The imposition of trade and financial sanctions on Russia by the US, the European Union and some other countries as a response to the conflict in Ukraine, and the sharp decline in the price of oil, have focused attention on the performance of the Russian economy and its future prospects. These developments occurred at a time when the economy was already experiencing mounting fears of stagflation or recession. This article explores the factors responsible for the loss of momentum of the Russian economy, the impact of sanctions and lower oil prices, and future growth prospects at a time of considerable geopolitical uncertainty.

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