EU: Russia is suffering under sanctions

‘Although it may take a long time to see the impact on Russia of some of the sanctions imposed, current estimates show that restrictive measures are already working as expected, and the first results are visible through economic indicators.’ So says the European Union, which has published ‘infographics’ graphs to illustrate how the Russian economy is gradually weakening as a result of sanctions imposed.

It says: ‘According to a World Bank report, 2022 will be a bad year for the Russian economy. Gross Domestic Product (GDP) is expected to drop by over 11 %. This would be the largest drop in GDP since the collapse of the Soviet Union.’

One chart shows Russia’s inflation rate between 2019 and 2022, and predicts that inflation will reach 22% by the end of 2022.

Another notes that – according to the Moscow Exchange – the exchange’s main index, MOEX, has shown ‘a steep drop of the index in mid-February (from over 3 600 points to less than 2 200 points).’

It says, ‘Between 25 February and 24 March, the stock exchange was closed (last closing at 2 470 points). After reopening, the index rose to 2 800 points to then dropped again. Since July 2022, it has been oscillating around 2 200 points.’

https://www.consilium.europa.eu/en/infographics/impact-sanctions-russian-economy/