Although the end of the year is still far away and many trends may still change, 2022 has undoubtedly been quite unique for the Russian #economy. In terms of the depth of the economic downturn, it is certainly going to ‘outdo’ the #crisis year of 2009, when the Russian Federation’s #GDP shrank by 7.9%. When it comes to de‑globalisation, it will surpass all parameters of 2014−2015, when #Russia was first subjected to Western #sanctions following the occupation of #Crimea and efforts to provoke separatism in the eastern regions of #Ukraine. That said, the current crisis differs significantly from the previous ones­ in terms of its dynamics: unlike in the past, there has been ­no sharp depreciation of the rouble (this ­year, its value was restored, which was not the case ­previously); the stock market decline has also been much ­less significant (going down by one third now versus shrinking twice in 2014−2015 and almost five times in 2008−2009). But the most paradoxical factor in my view is the situation in foreign trade and the balance of payments.

https://ridl.io/russian-economy-after-six-months-of-nbsp-war/ #war #oil #eu