The Economic Consequences of Sanctions against Russia after the Invasion of Russia in the Crimea
Journal: Uluslararası Avrasya ekonomileri konferansı
Year: 2015

The US and EU have imposed economic sanctions on Russia over its annexation of Crimea from Ukraine. Russia's economy has been severely impacted not only by sanctions, which have isolated it from international business and trade, but from the falling oil price which has plummeted around 60 percent since June 2014, hurting its exports and revenues. As a consequence, Russia is expected to enter recession in 2015. The estimated impact of Russia’s ban on agro-food imports from the EU imposed in Augus