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Economic Sanctions against Russia. A Critical Evaluation

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  • Andreea-Emanuela Dragoi
  • Ana-Cristina Balgar

Abstract

The main goal of the present paper is to quantitatively and qualitatively assess the effects of the economic sanctions imposed to Russia by the international community following the annexation of Crimea. Based on the literature review and most relevant international statistics our methodological approach will emphasize if the targeted economic sanctions of the EU have contributed to imposing a cost on the Russian economy, simultaneously with a change in its behavior towards Ukraine. Our analysis will take into considerations factors such: the decline in oil price, depreciation of the ruble and weakened terms of trade. Considering the international economic climate, our research will highlight to what extent, the Western sanctions may be considerate a success, scrutinizing if the involved parties need to consider some exit strategies, in order to minimize the risk of loss of face for all them.

Suggested Citation

  • Andreea-Emanuela Dragoi & Ana-Cristina Balgar, 2016. "Economic Sanctions against Russia. A Critical Evaluation," Knowledge Horizons - Economics, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 8(1), pages 63-67, March.
    • Handle: RePEc:khe:journl:v:8:y:2016:i:1:p:63-67
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    References listed on IDEAS

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    1. Caruso Raul, 2003. "The Impact of International Economic Sanctions on Trade: An Empirical Analysis," Peace Economics, Peace Science, and Public Policy, De Gruyter, vol. 9(2), pages 1-36, April.
    2. Chao Jing & William H. Kaempfer & Anton D. Lowenberg, 2003. "Instrument Choice and the Effectiveness of International Sanctions: A Simultaneous Equations Approach," Journal of Peace Research, Peace Research Institute Oslo, vol. 40(5), pages 519-535, September.
    3. Shane Bonetti, 1998. "Distinguishing characteristics of degrees of success and failure in economic sanctions episodes," Applied Economics, Taylor & Francis Journals, vol. 30(6), pages 805-813.
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    2. Morad Bali & Thanh T. Nguyen & Lincoln F. Pratson, 2024. "Impacts of EU Sanctions Levied in 2014 on Individual European Countries' Exports to Russia: Winners and Losers," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 50(2), pages 154-194, April.

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