Ukrainian crisis cost Russia 1.5% of GDP

26 september 2014 |

“The damage to the Russian economy caused by the crisis in its relations with Ukraine, can be estimated at 1.5% of GDP”, - said the First Deputy Director General of the Analytical Center for the Government of the Russian Federation Vladislav Onischenko at the Conference “Russian financial markets in the time of global instability”.

Vladislav Onischenko
Vladislav Onischenko
First Deputy Head

“It is difficult to make a quantitative assessment on how much damage can be done. It all depends on how far we will get in mutual trade restrictions and on the trade with energy products. A very rough estimation can be made for 1.5% of GDP,”- the portal quotes the expert.

According to Mr. Onischenko, the negative effect of the current geopolitical situation is not so much in the trade restrictions, but in the fact that it led to a general decline in investments.