Economists have assessed the impact of new sanctions against Russia

the report “the Case of American sanctions against Russia,” the IIF economists have pointed out that currently the Russian economy is in much better shape than in the period of sanctions 2014. This contributes to the floating of the Russian national currency (ruble), small dependence of Russian companies from Western credits, double surplus, low public debt (including external debt) and a large volume of international reserves of the Central Bank.

Economists stressed the importance of Russian government bonds to the global financial system and predicted that if the United States impose full-scale sanctions against the Russian sovereign debt, the consequences will be felt far beyond the borders of the Russian Federation or the United States.

“the New sanctions are unlikely to hurt Russia and this will have significant unintended and uncertain consequences for the markets”, – shared his point of view, IIF Deputy chief economist Elina Ribakova.

In the IIF also believes that the tightening of restrictive measures against the state debt to Russia may indicate a requirement for investors from the United States to get rid of all the Russian state papers. However, they, apparently, will be forced to write off these bonds, thus providing the service of Russia, de facto forgiving her debt.

Earlier it was reported that the Senate approved the draft U.S. defense budget for 2020, which included restrictive measures against the Russian gas pipeline “Nord stream-2” and “Turkish stream”. After that, the Swiss company Allseas, which was engaged in the laying of the pipeline, announced the recall of vessels from the construction area.

Read the article: “the U.S. President extended for one year sanctions against Russia over the Crimea”