Publication

Five years on since the imposition of sanctions, this edition examines their impact on Russian business. Firstly, Gunter Deuber outlines how after having initial adverse consequences, the sanctions have produced hardly any lasting negative financial market effects in the last 12–24 months, and suggests that a new equilibrium between international investors and the Russian state has been found. Secondly, Julia Kusznir evaluates the extent to which Western sanctions have impacted on progress towards the completion of the Nord Stream 2 project. Thirdly, Daniil Tsygankov analyses developments in the Russian crabbing industry as an illustrative example of how oligarch-connected companies have responded to the losses caused by Western sanctions, by seeking to use their access to the Russian state to gain control of lucrative sectors.