Russo-Ukrainian War: First Effects of Western Sanctions on Russian Economy

PeopleDiplomats ♦ Published: February 28, 2022; 17:18 ♦ (Vindobona)

The Russian economy is already beginning to feel the effects of the Western sanctions for its invasion of Ukraine. Read what effects the sanctions are having on the economy.

The Russian economy is already feeling the effects of the new sanctions. / Picture: © Wikimedia Commons / Frank Schwichtenberg, ECB decisions ECB/2003/4 and ECB/2003/5

Moscow has admitted that the economic sanctions that have been levied against Russia as a result of its invasion of Ukraine are going to hurt.

Dmitry Peskov, a spokesman for Russia’s presidential office, reportedly called the sanctions “problematic,” but he also said that “Russia has the potential to compensate for the damage.” …