Russia’s economy is much more than a “big gas station.” Under sanctions, that’s now its biggest problem

ABSTRACT

Ironically, by sanctioning Russia, the West may actually make that country into a true petrostate that is dependent on a handful of extractive industries – making today’s caricature of Russia come true in the near future.

KEYWORDS:

• Russia
• economy
• petrostate
• sanctions

Disclosure statement

No potential conflict of interest was reported by the author(s).

Funding

This research was carried out with grants from Research Council of Norway [288428].

Funding

This research was carried out with grants from Research Council of Norway [288428].

Additional information

Funding

This research was carried out with grants from Research Council of Norway [288428].

Notes on contributors

Janis Kluge

Janis Kluge is a senior associate at the German Institute for International and Security Affairs (SWP) in Berlin, Germany. He holds a PhD in economics from Witten/Herdecke University. His research focuses on Russia’s economic development, domestic policy, and sanctions.