Russia's recovery from economic recession could be complicated by sanctions announced recently by US President Donald Trump, with still greater potential of painful restrictions on investors and Russian companies seeking to raise capital in Western markets. This year, the US Treasury initiated new sanctions against Russian persons and entities for activities including the alleged poisoning in the UK of former FSB Officer Skripal and his daughter as well as Moscow's alleged meddling in the 2016 US presidential election.
Soft oil prices and tight monetary and fiscal policy only exacerbated the effects of targeted sanctions by the US, EU, and Canada—later joined by Australia, Japan, and Switzerland, among others—on the Russian economy during 2014 to 2015. Among the most powerful sanctions imposed, the US joined the EU in 2014 in sectoral sanctions on Russia's financial, defense, and energy sectors, to include Russia's largest bank (Sberbank), a major arms maker and arctic (Rostec), and deepwater and shale exploration by its biggest oil companies (Gazprom, Gazprom Neft, Lukoil, Surgutneftegas, and Rosneft). As a countermeasure to these sanctions, in August 2014, Russia banned food imports from countries that had imposed sanctions against it.
Additional US sanctions were expected this month in response to Russia's alleged support for Syria's chemical weapons attack on civilians as well as an expansion of sanctions to include new Russian sovereign debt but neither has been implemented. Market damage from US sanctions is already measurable, however, and has the potential to grow as uncertainty takes hold in markets and among investors.
Source, UN National Accounts
The set of dashboards under this hub is designed to provide a clear picture on the Russian economy. All these indicators are compiled from different data sources (World Bank, IMF, UN, etc.). After contracting by 7.8% in 2009, the Russian economy registered a growth rate of 4.0% in 2010. Please note that the dependency on energy exports for the Russian economy remains high. Interesting enough, over the last decade, the Russian population went down from 146 million in 2000 to about 140 million in 2010. Obviously, contraction in total population and decent economic growth resulted in a noticeable jump in GDP per capita -- a jump from about...
source, IMF World Economic Outlook, April 2011
Source: IMF World Economic Outlook, April 2011