Online ISSN 2286-0266
Print ISSN 1223-0685
© 2023 Œconomica by ASE & SOREC
 
Saeed AHMED
Academia de Studii Economice din Bucureşti
Radu-Cristian MUŞETESCU
Academia de Studii Economice din Bucureşti
The Russia-Ukraine conflict has created uncertainty in financial markets all over the world and has set off turmoil in global economy with high inflation rates. Sanctioning and excluding Russia from Society for Worldwide Interbank Financial Telecommunication (SWIFT) might temporarily setback its economy and devalue its currency, which will not only affect the region, but it may also pose a threat on the entire world as far as food security is concerned due to disruption in the supply-chain. It was believed that Russia might bend its knee due to the sanctions imposed by the United States, the United Kingdom and the European Union. Despite all predictions though, Russia has found ways to defy these sanctions wisely and to multiply its revenue. The purpose of this paper is to evaluate whether Russia manages to outsmart the sanctions imposed on it or not and if yes, to what extent? Furthermore, it examines in detail the oil price and revenue, as well as commodities price before and after the aggression against Ukraine, with a focus on Russia’s response with respect to these constraints.

ŒCONOMICA no. 1/2023
Keywords: trade, economic nationalism, political sanctions, international conflict, Russian-Ukrainian war
JEL: F01, F51, G01, K33, O52
How Russia Is Beating the Sanctions Associated With Its War Against Ukraine