Discussion session at LIIA focusing on the influence of sanctions on Russia
The Riga Dialogue, an annual event that brings together policy-makers and experts from the European Union, the United States, and other countries, is set to discuss the current challenges to Euro-Atlantic security and provide policy recommendations. This year's discussion will focus on the impact of Western sanctions on Russia's economy.
Organised by the Latvian Institute of International Affairs, with the support of the Friedrich-Ebert-Stiftung in the Baltic States and the European Commission Representation in Latvia, the Riga Dialogue will also see the participation of the European Leadership Network and the Nuclear Threat Initiative.
The panel will include multiple unspecified panellists, including Dr. Kai-Olaf LANG, a Senior Fellow at the EU/Europe Research Division of the German Institute for International and Security Affairs (SWP), and Iain BEGG, a Professorial Research Fellow at the European Institute, London School of Economics and Political Science. Another key participant is Mr. Alexey YUSUPOV, the Director of the Friedrich-Ebert-Stiftung Russia programme.
The discussion will analyse the impact of Western sanctions on Russia's economy, including financial restrictions, energy sector sanctions, and the subsequent economic challenges faced by Russia. Recent expert analyses suggest that while Western sanctions have significantly constrained Russia’s economy, they have not fully achieved their intended effect of stopping the war or causing a total economic collapse.
Russia's economy has shown resilience despite the sanctions. Critical sectors have been sustained, and the country has boosted domestic production to compensate for the loss of Western markets. However, sectors reliant on Western markets and imports have struggled due to sanctions-related supply chain disruptions, labor shortages, and high interest rates. As a result, Russia’s economic growth has slowed markedly, with signs of contraction by early 2025.
The discussion will also address the ongoing challenges created by the sanctions. While Russia faces supply-side constraints and economic stagnation, the sanctioning countries face potential repercussions such as higher global energy prices and economic instability.
The Riga Dialogue, led by Mr. Andris KUŽNIEKS, Acting Head of the European Commission Representation in Latvia, will be livestreamed by our news service starting at 17:00 on Tuesday. Tune in to gain insights into the complexities of the ongoing sanctions on Russia and their implications for the global economy.
- The panel at the Riga Dialogue, featuring Dr. Kai-Olaf LANG and Iain BEGG from the European Institute, London School of Economics and Political Science, will provide insights into the complexities of the ongoing sanctions on Russia and their implications for the global economy.
- The discussion at the Riga Dialogue, organized by the Latvian Institute of International Affairs, will address the impact of Western sanctions on Russia's economy, specifically focusing on financial restrictions, energy sector sanctions, and the subsequent economic challenges faced by Russia.
- The Riga Dialogue, which includes participation from Alexey YUSUPOV, the Director of the Friedrich-Ebert-Stiftung Russia program, will analyze the ongoing challenges created by the sanctions, including potential repercussions for sanctioning countries such as higher global energy prices and economic instability.
