The impact of economic sanctions on international trade of Russia in 2022–2024

Absztrakt (kivonat)

This study conducts a comprehensive investigation to provide a comprehensive understanding of the economic impact of political issues on Russia's complex global trade relationships. The aim of the study was to examine how economic sanctions will affect Russia's trade with other countries in the period from 2022 to 2024. The research topic is current and relevant since sanctions affects not only changes in the Russian economic system, but also has an impact on the development of international trade at all levels. The study used secondary quantitative data on Russia's gross domestic product, oil and gas industry's contribution toGDP, total exports and imports, Russian companies' net profit during the specified period, andquantitative factors that determine foreign trade turnover to achieve this goal. The secondary qualitative data includes information on export and import limitations for certain items, the impact of sanctions on particular goods, the potential benefits of introducing restrictions on other goods, and the dynamics of international trade between Russia and its partner countries. All data were analyzed using illustrative graphs, as well as using “Stata” representing descriptive and inferential statistics. In conclusion, proposed the ways to reduce the negative impact of economic sanctions on Russia's trade with other countries and consider possible ways to strengthen Russia's business ties, taking into account the current economic sanctions