Russia's invasion of Ukraine in February 2022 triggered a series of sanctions imposed by the European Union, the United States and other Western countries in response to the aggression of Vladimir Putin's regime.

Since the beginning of the conflict, a wave of more than 10,000 restrictive measures has thus been added to the list of sanctions taken against Russia by the international community.

In a report published at the end of October, the Bruegel think tank admitted, however, that, until then, "Russian tax revenues had not suffered enough from the sanctions to reduce the duration of this war", the country's government taking advantage in particular of the higher energy prices to offset losses from Western restrictions.

But this relative resistance may well be coming to an end…

“A serious attack on the Russian economy”

The authors of the report note that “Russia's tax revenues are now starting to take a hit;

given the scale of the sanctions, the economy will suffer in the medium and long term.

The departure of a large number of Western companies, the emancipation of the EU from Russian hydrocarbons and the inability of Russia to find equivalent alternatives will cause "serious damage" to the economy. Russian”.

Estimates from various sources (including the Russian authorities) show that the restrictive measures taken in Europe and elsewhere are weighing heavily on the country's economy, the results being visible in particular through the evolution of several indicators presented in our infographic.

Since May, for example, Russia's GDP has been in recession by 4% to 5% compared to last year.

Industrial production has been sluggish since the spring, particularly in the automotive sector, where monthly production drops ranging from 64% to 97% were reported from April to October.

Our "WAR IN UKRAINE" file

Another indicator of economic health, domestic consumption has also been sluggish for more than six months, with retail sales 9% to 10% lower than the previous year.

It remains to be seen how long the Russian economy will be able to resist in this unfavorable situation.

World

Oil: Who are (or were) Russia's main customers?

Economy

Natural gas: Can exports from the African continent replace those from Russia?

  • War in Ukraine

  • Russia

  • World

  • Statistics

  • Video

  • Infographics

  • Sanction

  • Economy