The impact of Western sanctions on the Russian economy

This article aims to investigate the impact of Western sanctions on the Russian economy, and in this context, it has focused on the economic sanctions of the United States and European Union member states on Russia. The research method was descriptive-analytical and used library data and information. The findings of the research indicate that among Western sanctions against the Russian economy, financial and banking sanctions with a frequency of 8 have the highest frequency, followed by exchange sanctions with a frequency of 6, scientific and technological sanctions with a frequency of 3, and transportation sanctions with a frequency of 1. They are ranked next. The findings of the research on the macroeconomic indicators of Russia such as the economic growth rate, exchange rate, inflation rate, interest rate, export and import rate of this country showed that the Russian economy during 2014, which was the beginning of Western economic sanctions, until 2022 (which is the latest and most up-to-date The data of the World Bank is related to this year) has followed a downward trend and the economy of this country has faced fundamental challenges in various fields, especially liquidity. Therefore, the goals of Western economic sanctions have been achieved to a significant extent in Russia, and the country's economy, as the fifth economic power in the world, has been able to face a crisis. However, paying attention to confrontation with sanctions and policy-making based on the special conditions of sanctions can partially compensate for the harmful and destructive effects of economic sanctions in the sanctioned countries, or even bring mutual costs to the sanctioning countries.