Impact of Western Sanctions on Russia (Seyyedeh Motahhareh Hosseini, Iran Review)

While Russia is doing its best to deny the impact of sanctions imposed against Moscow by Western countries on its policies, and go on with its former domestic, and especially foreign, policies, it seems that the effect of sanctions on Russia has led to deterioration of the country’s economic situation and people’s financial state. As a result, economic and financial indexes of Russia have been plagued with crisis and have been on the fall one after the other. Most Russian people currently prefer not to invest their money and capital in capital production and instead, either take it out of the country or keep it in banks and get interest. The priority given by the Russian government to liquidity, along with other domestic financial policies, will increase inflation and this issue can reduce people’s purchasing power, bring production to a halt and lead to increasing joblessness and poverty.

http://www.iranreview.org/content/Documents/Impact-of-Western-Sanctions-on-Russia.htm