ISSN (print) - 0131-7652

ISSN (online) - 2686-7605

Vol. 53 No. 12 (2023)
Cover story: «Garages» and «Mirages»

The Russian Sanctions Crisis: Conceptual Aspects

PDF (Русский)
  • N.V. Smorodinskaya,
  • D.D. Katukov
N.V. Smorodinskaya
Institute of Economics of the RAS
D.D. Katukov
Institute of Economics of the RAS
DOI: https://doi.org/10.30680/ECO0131-7652-2023-12-8-29

Published 2023-11-26

Keywords

  • economic sanctions; sanctions crisis; large country; Russian economy; adaptation to sanctions; economic simplification; beneficiaries of sanctions

How to Cite

1.
Smorodinskaya Н, Katukov Д. The Russian Sanctions Crisis: Conceptual Aspects. ECO [Internet]. 2023 Nov. 26 [cited 2024 Dec. 18];53(12):8-29. Available from: https://ecotrends.ru/index.php/eco/article/view/4687

Abstract

The paper analyzes the process of the Russian economy passing through the first and second years of sanctions in order to identify the regularities of the sanctions crisis in a “big country” that can produce a powerful backlash effect on global energy markets and the members of the sanctions coalition. Stemming from economists’ understanding of the global sanctions practice, we consider the Russian case as its unique experiment. We provide the reasons why Russia successfully overcame the sanctions shocks in 2022 and the signs of its plunge from 2023 into a long-term stress associated with the accumulation of structural deformations and the economy’s simplification. It is shown that countries friendly to Russia may become the main beneficiaries of its sanctions status. It is emphasized that the sanctions crisis is a process of non-linear transformation of the economy, which cannot be counteracted by traditional anti-crisis measures.
PDF (Русский)

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