The armed forces champion a form of capitalism that is generating revenue, but its reliance on rent faces diminishing returns, leaving the country with massive sunk costs and deferred returns, deepening dependency on external borrowing.
Yezid Sayigh
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Podcast host Alex Gabuev is joined by Andrey Movchan, a nonresident scholar in the Economic Policy Program at the Carnegie Moscow Center, and Maria Shagina, a postdoctoral fellow at the Center for Eastern European Studies at the University of Zurich, to discuss the impact of Western sanctions on the Russian economy.
After eight years of Western sanctions, has the Russian economy suffered substantially as a result? Do the latest U.S. sanctions in fact show that Washington is ready to turn the page? How successful has Russia’s import substitution initiative been? And how far do sanctions actually play into the Kremlin’s hands at home?
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Director, Carnegie Russia Eurasia Center
Alexander Gabuev is director of the Carnegie Russia Eurasia Center. Gabuev’s research is focused on Russian foreign policy with particular focus on the impact of the war in Ukraine and the Sino-Russia relationship. Since joining Carnegie in 2015, Gabuev has contributed commentary and analysis to a wide range of publications, including the Financial Times, the New York Times, the Wall Street Journal, and the Economist.
Andrey Movchan
Former Nonresident Scholar, Carnegie Moscow Center
Movchan is a nonresident scholar at the Carnegie Moscow Center.
Dr. Maria Shagina
Dr Maria Shagina is a postdoctoral fellow at the Center for Eastern European Studies (CEES) at the University of Zurich
Carnegie does not take institutional positions on public policy issues; the views represented herein are those of the author(s) and do not necessarily reflect the views of Carnegie, its staff, or its trustees.
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