Western sanctions will have a negligible effect on the Russian economy this year, after a “one-off” blow last year, but long-term effects will also hurt, the US says.
The sanctions, imposed by the EU and US in mid-2014, prompted the Russian economy to contract by 1 to 1.5 percent more than it would have done in 2015, a State Department official told press in Brussels on Tuesday (12 January).
They also led international investors to write down the vaue of Russian assets by some 1...
Back our independent journalism by becoming a supporting member
Already a member? Login hereAndrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.
Andrew Rettman is EUobserver's Foreign Affairs Editor. He has been writing about foreign and security affairs for EUobserver since 2005. He is Polish but grew up in the UK. He has also written for The Guardian, The Telegraph, and The Times of London.