Sanctions linked to the Ukraine crisis could end up costing Russia 9% of its gross domestic product, the International Monetary Fund has said. Russia’s economy is showing signs of stabilisation after slumping under pressure from Western financial sanctions and Russian counter-measures. Low international prices for its oil exports have added to pressure on the rouble and government finances. “The effects of sanctions in terms of external access to financial markets and new investment technology will linger,” the fund said, summing up the findings of a mission in May. Last year Western countries imposed restrictions …read more
Source: Business Insider
