Academic Scientific JournalsThe (in)effectiveness of sanctions: an attempt at evaluating the effectiveness of the sanction policy against Russia
DOI:
https://doi.org/10.26881/jpgs.2024.1.02Keywords:
war in Ukraine, sanctions, economy, Russia, European UnionAbstract
Although Russia’s economy appears immune to any actions taken by countries supporting Ukraine in its struggle to preserve its sovereignty, the sanctions project directed against Russia continues to evolve. The sanctions policy pursued by the European Union, the United States, and their allies is isolating the Russian economy, gradually leading to its ‘Sovietisation’. The primary purpose of this paper is to assess the impact of the sanctions on the economic situation of the Russian Federation. The paper is based on available statistical information provided by the Federal State Statistics Service (Rosstat) and Russian news media.
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