Maria Shagina (University of Zurich) - Assessing Russia's resilience to economic sanctions

Maria Shagina (University of Zurich) - Assessing Russia's resilience to economic sanctions

Abstract
Western sanctions exposed Russia’s key vulnerabilities - dependence on Western capital and advanced technology, with knock-on effects in other sectors. In response, Russia launched a policy of import substitution and attempted to diversify to non-Western countries to mitigate the impact of restrictive measures. After seven years, the results of import substitution have been mixed, while the turn to the East has not been a panacea to Western sanctions. Focusing on the Russia-China relations, the talk will examine the ways in which Asian states have helped alleviate the burden of sanctions. It will also assess the progress of import substitution and de-dollarization, while drawing the implications for the effectiveness of sanctions overall.

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