Economic Sanctions Disruption on International Trade Patterns and Global Trade Dynamics: Analyzing the Effects of the European Union’s Sanctions on Russia

Abstract

Governments frequently use economic sanctions to influence or undermine the political actions or regimes of other countries. This case study of the economic sanctions imposed by the European Union on the Russian Federation in response to the annexation of the Crimean Peninsula serves as an illustrative example that provides new, in-depth insights into the implications of economic sanctions for international trade patterns and global trade dynamics. We conclude that sanctions negatively affect bilateral trade between the sanctioner and the target country, and that sanctions constrain the target country’s integration into the global economy.

Keywords:

• Economic sanctions
• EU
• global trade
• international business
• Russia