The Multidimensional Effects of International Sanctions on Russia

Abstract

In the first few months after the start of the military operation in Ukraine, Russia faced unprecedented sanctions pressure. By autumn 2023, there were about 15,000 sanctions and prohibitions against Russia. At the same time, the geography of Russia's allies sharply narrowed and now mainly includes African and Asian states. However, the wave of sanctions did not force Russia to abandon its advancement in Ukraine. At the same time, the sanctions have brought no significant damage to the Russian economy. In this article, the author attempts to assess the effectiveness of anti-Russian sanctions through analyzing primarily economic and trade indicators. The author concludes that the sanctions will not have the expected effect on Russia due to the specific nature of the conflict in Ukraine.