The impact of Western sanctions on the Russian economy is far greater than official figures show, according to a study by Yale University, also stressing that a “pivot to China” seems unrealistic. “A common narrative has emerged”, say the authors of this study: the economic sanctions imposed by Western countries against Russia since the invasion of Ukraine, have created “a ‘war of economic attrition which is wreaking havoc on the West”, given the supposed “resilience” or even “prosperity” of the Russian economy”.
“It’s simply false,” say these experts from the Yale School of Management, denouncing “statistics selected” by Russian President Vladimir Putin. However, according to their analysis, “the departures of companies and the sanctions paralyze the Russian economy, in the short and long term”. Economic sanctions, therefore, deter many companies and countries from continuing to trade with Russia. And the country is struggling to obtain spare parts and raw materials, or to obtain certain essential technologies.