In 2014  Europe Union and United States had implied Russia with sanction as a result of illegal annexation of Crimea. Those sanctions were just small wave and more sever sanctions had been added when Russia shooted down malaysian aircraft, after presense military operations in Donbass, and non-respect Minsk agreement. Even though restrictions were very serious and affected all sectors of Russian economy, sanctions had not brought any positive results. Huge mounts of banks and companies had suffered especially companies who had debt in dollars but had been earning in roubles in reason of depreciation of rouble. Russian economy had a serious hit after falling oil prices

In the end of summer in 2014 Russian implied a counter-sanctions against EU and US that meant Russia refused the exports from Western Europe and US. Counter sanctions included extension and agricultural products. Russia had not suffered too much, on other hand developed countries like Germany, UK and Polland had got a huge damage.

Sanctions, Russian economy, illegal annexation

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“Академия Google.” Google.com, 2024, scholar.google.com/scholar?hl=ru&as_sdt=0%2C5&q=sanctions+on+russia&oq=#d=gs_qabs&t=1732449239713&u=%23p%3D9xPYIRB7m2MJ.

“Академия Google.” Google.com, 2024, scholar.google.com/scholar?hl=ru&as_sdt=0%2C5&q=sanctions+on+russia&oq=#d=gs_qabs&t=1732449296117&u=%23p%3DN17ubsddMu8J.

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Petrakov, Pavel. “Economic Sanctions against Russia: Expectations and Reality Rustem Nureev Financial University the Government of RF, Moscow, Russia Head of the Department of Economic Theory.” The Business and Management Review, vol. 7, 2016, cberuk.com/cdn/conference_proceedings/conference_83814.pdf.

Sedrakyan, Gohar Samvel. “Ukraine War-Induced Sanctions against Russia: Consequences on Transition Economies.” Journal of Policy Modeling, vol. 44, no. 5, Aug. 2022, https://doi.org/10.1016/j.jpolmod.2022.08.003.

Timofeev, Ivan, et al. Sanctions against Russia: A Look into 2020 27 / 2020