The Effect of Food Sanctions on Prices in Russia in 2014-2016
Monitoring of Russia's Economic Outlook. Moscow, 2017, No. 5, pp. 16-18
3 Pages Posted: 5 Apr 2017
Date Written: April 3, 2017
In H2 2014, Russia introduced a food embargo against a number of countries as a retaliatory measure to economic, technological and financial sanctions. Limitation of imports of goods to Russia led to growth in prices on foreign goods and their domestic analogs, as well as changes in the consumer goods basket. According to our estimates, as a result of the food embargo prices on goods under sanctions (delivered from countries against which the food embargo was not imposed) rose on average by 3.0%, while prices on sanctions-free goods, generally by 2.9%.
Keywords: Russian Economy, Food Sanctions
JEL Classification: Q16, Q17, Q18
Suggested Citation: Suggested Citation