Impact of economic sanctions on the sustainable financial health of banking sector in Russia
Journal: Theseus (Ammattikorkeakoulujen)
Year: 2019

In 2014 the first economic and financial sanctions were applied by the US and EU against the whole industries and dozens of companies in the Russian Federation. These measures were aimed at demonstrating disapproval of the Russian Government's policies on the status of Crimea and the Ukrainian civil war. Panic because of approaching crises, especially in the financial industry, appeared immediately. The exchange rates were no more predictable, and the trust in banks from the population became qu