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The Impact Of European Union And United Kingdom Sanctions Against The Russian Federation On Their Trade Flows In Services

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  • Georgeta Ilie

Abstract

The objective of this paper is to identify the impact of the sanctions adopted since February 2022 by European countries against the Russian Federation after the Ukraine’s aggression on their mutual trade flows in services. In the first part of the paper, a summary of the sanctions against the Russian Federation from the main Western jurisdictions is presented. The analysis undertaken focuses on the economic measures taken by EU countries and the United Kingdom in the bilateral service trade, with the aim of limiting the financial possibilities of the aggressor state to support the conflict against Ukraine. In the last part of the paper, the first quantitative and qualitative effects of the international sanctions on trade in services of the Russian Federation are synthetized. The analysis focuses on 2022 and the first part of 2023, following the total or partial withdrawal of some representative companies operating in the field of services from the Russian market.

Suggested Citation

  • Georgeta Ilie, 2023. "The Impact Of European Union And United Kingdom Sanctions Against The Russian Federation On Their Trade Flows In Services," Euroinfo, Institute for World Economy, Romanian Academy, vol. 7(4), pages 20-28, September.
    • Handle: RePEc:iem:eurinf:v:7:y:2023:i:4:p:20-28
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    File URL: https://iem.ro/rem/index.php/euroinfo/article/view/879/963
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    More about this item

    Keywords

    Russian-Ukrainian conflict; sanctions; EU; United Kingdom; Russian Federation; trade in services;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • O2 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy

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