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Investigation of sanctions and oil price effects on the Iran-Russia trade by using the gravity model

Author

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  • Ehsan RASOULINEZHAD

    (Санкт-Петербургский государственный университет)

Abstract

Sanctions introduced in 2006 are said to have had a crucial effect on the Iranian economy in the last decades and have affected the economic relations between Iran and the rest of the World. It has been asserted repeatedly that sanctions against Iran have been hindering its foreign trade and its access to the global market and that sanctions have caused Iran to become less globalized and more isolated. As Iran’s economy is highly sensitive to oil prices due to its high reliance on oil revenues it might affect Iran’s trade with other nations. Our study explores how much various sanctions (financial and non-financial) and oil price have affected the foreign trade of Iran with Russia during 1994-2013. The research provides a detailed study of the impact of financial and non-financial sanctions on Iran-Russia foreign trade and relation of oil price and Iran-Russia foreign trade. The findings show the negative relationship between financial, non-financial sanctions and oil price shocks with the Iran-Russia trade. Refs 37. Figs 6. Tables 7.

Suggested Citation

  • Ehsan RASOULINEZHAD, 2016. "Investigation of sanctions and oil price effects on the Iran-Russia trade by using the gravity model," Vestnik of the St. Petersburg University. Series 5. Economics Вестник Санкт-Петербургского университета. Серия 5. Экономика, CyberLeninka;Федеральное государственное бюджетное образовательное учреждение высшего образования «Санкт-Петербургский государственный университет», issue 2, pages 68-84.
    • Handle: RePEc:scn:003571:16920010
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    Citations

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    Cited by:

    1. Liudmila Popova & Ehsan Rasoulinezhad, 2016. "Have Sanctions Modified Iran’s Trade Policy? An Evidence of Asianization and De-Europeanization through the Gravity Model," Economies, MDPI, vol. 4(4), pages 1-15, October.
    2. Ehsan Rasoulinezhad & Farhad Taghizadeh-Hesary, 2017. "A new evidence on the CIS?s environmental pollution-macroeoconmic variables relationship," ECONOMICS AND POLICY OF ENERGY AND THE ENVIRONMENT, FrancoAngeli Editore, vol. 2017(1-2), pages 273-293.
    3. Taghizadeh-Hesary, Farhad & Yoshino, Naoyuki & Rasoulinezhad, Ehsan, 2017. "Impact of Fukushima Nuclear Disaster on Oil-Consuming Sectors of Japan," ADBI Working Papers 659, Asian Development Bank Institute.
    4. Taghizadeh-Hesary, Farhad & Rasoulinezhad, Ehsan & Yoshino, Naoyuki, 2017. "Trade Linkages and Transmission of Oil Price Fluctuations in a Model Incorporating Monetary Variables," ADBI Working Papers 777, Asian Development Bank Institute.
    5. Taghizadeh-Hesary, Farhad & Yoshino, Naoyuki & Rasoulinezhad, Ehsan & Chang, Youngho, 2019. "Trade linkages and transmission of oil price fluctuations," Energy Policy, Elsevier, vol. 133(C).
    6. Ehsan Rasoulinezhad, 2018. "A new evidence from the effects of Russia’s WTO accession on its foreign trade," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 8(1), pages 73-92, April.

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