Putin's sanctions cost Russia $350B, 14% of economy
According to The Moscow Times, citing a report by economists at the Gaidar Institute titled "Sanctions Against Russia: Dynamics, Tightening Restrictions, and Economic Effects," Russia is facing substantial long-term economic damage.
The same source indicates that by mid-2025, over 24,000 Russian citizens and companies were on various sanctions lists, with 18,000 of them added between 2022 and 2024, following the invasion of Ukraine. "Despite the economy's partial adaptation, sanctions continue to have a significant and cumulative negative impact," experts observe. Gaidar Institute analysts, drawing on various economic assessments, have found that the imposed measures have led to a 1-2% annual drop in Russia's GDP, and that "the long-term consequences of these restrictions could be seven times greater."
"Based on Rosstat data for 2024 GDP volume (201 trillion rubles), in monetary terms, sanctions could cost the Russian economy 28 trillion rubles, or approximately $357 billion – an amount comparable to the annual GDP of countries like Romania, the Czech Republic, or Egypt," the source notes.
Translation by Iurie Tataru
