War’s price tag for Russia will be high
Russia’s war in Ukraine is, above all, a massive human tragedy and an assault on Ukraine’s economy and society. But Russia, too, will end up paying a high price for its cruel decision to wage war.
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Russia is struggling to find new sources of imports
Russia’s brutal war in Ukraine has affected the Russian economy through various channels. There has been a substantial decline in imports due to the heightened uncertainty and the international sanctions prompted by the war.
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Consumption and service sectors key factors in the global trade collapse during the COVID-19 crisis
The global economy and global trade flows have been hit hard by the COVID-19 crisis. The trade collapse in the second quarter of 2020 was even more severe than during the trough of the global financial crisis in 2009.
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Russian economy hit by COVID-19 and oil market turmoil
Russia imposed strict lockdown measures similar to many countries, resulting in sharp reductions in demand and production.