In response to the invasion of Ukraine, many countries implemented economic sanctions against Russia, the 11th largest economy in the world. These have significant impact of various types: financial, exports, mobility, FDIs, usability of SWIFT, and access to foreign exchange, possible failure on foreign debt, access to internet, access to assets in the West, etc.

In this Policy Brief, we first focus on the direct and indirect effects of the imposed sanctions on Russia’s real economy, in particular how a lack of availability of imports of primary and intermediary goods affects Russian domestic production. Second, we estimate the outcomes of a hypothetical scenario of sanctions against Russian oil and gas exports. Finally, we estimate the secondary economic effects of Russian production losses on the sanctionimposing countries.

We provide an interactive sanction calculator, where hypothetical sanctions of various countries in all industry sectors can be interactively implemented and the effects on Russia and the rest of the world is displayed.