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THE IMPACT OF ECONOMIC SANCTIONS ON THE EUROPEAN UNION'S RELATIONS WITH THE RUSSIAN FEDERATION: THE CASE OF POLISH-RUSSIAN TRADE EXCHANGE
Jarosław KUŚPIT1
Economic Problems and Economic Thinking in Crisis
Publication language: English
Journal article
Transformations No. 3-4 (98-99) 2018, Publication date: 8 December 2018
Keywords: economic sanctions, trade exchange, Russia, export, import
Abstract The deterioration in political relations between the Russian Federation and European Union member states following the annexation of Crimea and involvement in the conflict in eastern Ukraine was quickly reflected in the trade policy of the partners. The parties applied economic sanctions against each other, which, in the case of the European Union, aimed to induce Russia to abandon the policy of threatening Ukraine's sovereignty and territorial integrity. In response to such actions, Russia introduced countersanctions shortly afterwards. Measures of this nature were taken in mid-2014. The sanctions have been in place for more than four years, which allows for an initial assessment of their economic impact. The aim of this article is to assess the impact of the applied economic sanctions on the value and structure of Polish-Russian trade. In order to achieve this goal, the author compares the trade turnover from the period before sanctions and from years after the introduction of sanctions. Drawing on the comparison, conclusions are formulated.
Institute of Economy and Business Administration, The John Paul II Catholic University of Lublin
E-mail: jkuspit@kul.lublin.pl