The economic effects of the introduction of a Russian food embargo on the economies of the EAEU countries[Экономические Эффекты Введения Россией Продуктового Эмбарго На Экономику Стран Еаэс]

In this paper, we study the question of the impact of this trade restriction on the prices of Russian imports. This task has important applied and academic value. First, the practical benefit is to assess the impact of the embargo on import prices (at the border). Secondly, the academic significance of the work stems from the fact that the trade restriction introduced occurred at the time of the sharp decline in the ruble exchange rate. Thus, the econometric questions of assessing the impact of two, almost simultaneous events on import prices become fundamental. Namely, we will pay attention to how modern econometric methods allow us to take into account the effect of the embargo and not to mix it with the effect of transferring the exchange rate to import prices. The analysis uses monthly FCS data on Russia's imports, Central Bank data on exchange rates, Rosstat data on consumer prices and production volumes.