The economic impact of mutual EU-Russia sanctions on the EU. Plausibility assessment of recent studies by simple estimation
The mutual sanctions imposed between Russia and the EU in the wake of the Crimea crisis in 2014 have weighed on bilateral trade. Estimates of the impact of the decline in trade on gross domestic product vary.
In order to quantify the exact impact of sanctions on trade and the gross domestic product of the European Union, Berlin Economics conducted a simple plausibility check of previous studies. While the estimates of the impact on trade were largely plausible, there were significant discrepancies with regard to the impact on gross domestic product.