A potential stop in the West's gas trade with Russia could lead to the latter's GDP loss of almost three percent, according to an estimate from 2022. A ban on imports and exports of crude oil could lead to a decline of 1.2 percent in the Russian GDP.
Estimated change in gross domestic product (GDP) due to potential Western sanctions in Russia in 2022, by target sector*
* Based on a simulated total stop of imports and exports in each product group.
The source considered the following group of Western allies: Albania, Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czechia, Denmark, Germany, Estonia, Finland, France, Georgia, Greece, Hungary, Ireland, Italy, Japan, Latvia, Lithuania, Malta, Montenegro, New Zealand, the Netherlands, Norway, Poland, Portugal, Sweden, Slovakia, Slovenia, Romania, Spain, Ukraine, the United States, and the United Kingdom.
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Kiel Institut für Weltwirtschaft. (February 23, 2022). Estimated change in gross domestic product (GDP) due to potential Western sanctions in Russia in 2022, by target sector* [Graph]. In Statista. Retrieved December 22, 2024, from https://www.statista.com/statistics/1293413/sanctions-estimated-impact-on-gdp-by-sector-russia/
Kiel Institut für Weltwirtschaft. "Estimated change in gross domestic product (GDP) due to potential Western sanctions in Russia in 2022, by target sector*." Chart. February 23, 2022. Statista. Accessed December 22, 2024. https://www.statista.com/statistics/1293413/sanctions-estimated-impact-on-gdp-by-sector-russia/
Kiel Institut für Weltwirtschaft. (2022). Estimated change in gross domestic product (GDP) due to potential Western sanctions in Russia in 2022, by target sector*. Statista. Statista Inc.. Accessed: December 22, 2024. https://www.statista.com/statistics/1293413/sanctions-estimated-impact-on-gdp-by-sector-russia/
Kiel Institut für Weltwirtschaft. "Estimated Change in Gross Domestic Product (Gdp) Due to Potential Western Sanctions in Russia in 2022, by Target Sector*." Statista, Statista Inc., 23 Feb 2022, https://www.statista.com/statistics/1293413/sanctions-estimated-impact-on-gdp-by-sector-russia/
Kiel Institut für Weltwirtschaft, Estimated change in gross domestic product (GDP) due to potential Western sanctions in Russia in 2022, by target sector* Statista, https://www.statista.com/statistics/1293413/sanctions-estimated-impact-on-gdp-by-sector-russia/ (last visited December 22, 2024)
Estimated change in gross domestic product (GDP) due to potential Western sanctions in Russia in 2022, by target sector* [Graph], Kiel Institut für Weltwirtschaft, February 23, 2022. [Online]. Available: https://www.statista.com/statistics/1293413/sanctions-estimated-impact-on-gdp-by-sector-russia/
