ECONOMIC SANCTIONS AGAINST RUSSIA. A CRITICAL EVALUATION

The main goal of the present paper is to quantitatively and qualitatively assess the effects of the economic sanctions imposed to Russia by the international community following the annexation of Crimea. Based on the literature review and most relevant international statistics our methodological app...

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Bibliographic Details
Published in:Knowledge horizons : economics 2016-01, Vol.8 (1), p.63
Main Authors: Dragoi, Andreea-Emanuela, Balgar, Ana-Cristina
Format: Article
Language:English
Subjects:
Bans
Economic impact
Embargoes & blockades
Foreign policy
Geopolitics
International trade
Literature reviews
Sanctions
Terms of trade
Trade restrictions
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Summary:The main goal of the present paper is to quantitatively and qualitatively assess the effects of the economic sanctions imposed to Russia by the international community following the annexation of Crimea. Based on the literature review and most relevant international statistics our methodological approach will emphasize if the targeted economic sanctions of the EU have contributed to imposing a cost on the Russian economy, simultaneously with a change in its behavior towards Ukraine. Our analysis will take into considerations factors such: the decline in oil price, depreciation of the ruble and weakened terms of trade. Considering the international economic climate, our research will highlight to what extent, the Western sanctions may be considerate a success, scrutinizing if the involved parties need to consider some exit strategies, in order to minimize the risk of loss of face for all them.
ISSN:2069-0932
2066-1061