Abstract
Measures, imposed on the Russian Federation in 2014 to isolate Russia from the world community, were called sanctions. Their immediate goal is to deprive Russia of resources (financial, economic, technical and technological, information, scientific, cultural) that are needed for its development. The sanctioning countries suppose that the damage caused by their sanctions will weaken the socio-economic, military-political, scientific and technological potential of Russia. Some results of the author’s analysis of the impact of sanctions on the macroeconomic indicators of the Russian Federation i presented in this paper. The following indicators were studied: the volume of financial resources provided to Russian organizations, individuals and credit organizations; the volume and dynamics of capital investments and fixed assets; gross domestic product and industrial output; labour and capital productivity, and some other indicators. The years in which anti-Russian sanctions caused the most considerable damage have been identified. The author also shows that the negative impact of sanctions on the economic development of the country is, in many ways, similar to the damage, caused by the global financial and economic crises. The similarity of their impact is because both crises and sanctions deprive the country of resources for economic development. First of all, we are talking about financial resources.
Highlights
Sanctions imposed on Russia in 2014, which their initiators are consistently expanded and tightened, isolate the Russian economic entities of the world’s financial markets
Measured in Russian roubles, the volume of loans, deposits, and other placed funds in the foreign currency provided to organizations, individuals and credit organizations in the Russian Federation sharply increased immediately after the introduction of anti-Russian sanctions (Fig. 1)
In the Russian economy, the volumes of investment in fixed capital naturally decreased after the introduction of anti-Russian sanctions (Fig. 3)
Summary
Sanctions imposed on Russia in 2014, which their initiators are consistently expanded and tightened, isolate the Russian economic entities of the world’s financial markets. This goal is clearly stated, for example, in the document “Imposition of Additional Sanctions on Russia under the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991”:. Difficulties in obtaining cheaper foreign loans than in the country (a refusal to grant them, prohibitions, and restrictions), blocking and freezing of accounts in foreign banks forced Russian individuals and legal entities to turn to the Russian financial and credit institutions.
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