Sergei Guriev, former Rector of the New Economic School in Moscow, argues that the “sanctions have not worked” argument is incorrect arguing that they have resulted in Russia’s recognition that Donetsk and Luhansk are part of Ukraine.
The combination of Western sanctions and an oil price collapse has inflicted a great deal of pain on the Russian economy but the latest opinion polls still show 85 per cent support for Putin and there is debate over just how much of an economic collapse Russian may be facing. In this context,...
Pavel Andreev argues that Russia has learnt the lessons of the 1998 financial crash, and that whilst the near future will be difficult Russia will emerge from the current crisis with a more durable economy.
Chris Weafer observes that the uniformly negative analysis of Russia’s economic prospects in 2015 obscure a crucial aspect, that the Russian economy may be forced into reforms that will improve growth in the long-term.
Ben Aris argues that whilst the economic outlook for Russia in 2015 is bad, it is not disastrous. Russia still has the means to manage the current combination of a falling rouble and low oil prices, but requires major reforms if it is to avoid long-term stagnation.
Steven Pifer, the former U.S. Ambassador to Ukraine, argues that sanctions may still bring the Russians to the negotiating table as the Russian economy starts to feel the pain.