Russian companies have adapted to sanctions

Researchers from the Gaidar Institute’s Quantitative Analysis of Economic Effects Department have prepared a new issue of the analytical review “Monitoring of Rusia’s Economic Outlook”, the conclusions of which were reviewed by TASS. The study is devoted to the impact of sanctions on the Russian economy in the period from 2022 to 2025 and its adaptation to the new environment.

According to the survey findings, the asset freeze does not have a significant impact on companies' revenues, as these assets, mainly foreign accounts and property, are not directly involved in operational activities. The ban on supplying goods to sub-sanctioned companies led to an increase in their revenue due to a change of suppliers, reorganization of logistics and internal redistribution of demand, but financial measures, on the contrary, have a significant negative impact, reducing nominal revenue by 111.7% when subject to such sanctions.

Looking at the impact of the “second wave” of sanctions on the Russian manufacturing industry, experts noted that in spring of 2023, 61% of companies were affected by the imposition of sanctions, with the majority indicating negative effects. Companies are adapting to the new conditions by changing suppliers and reducing costs. At the same time, the analysis shows a 15% decline in the volume of sub-sanctioned goods shipments in 2023 relative to 2021, of which about 8% is attributed to sanctions pressure. As a result of the outstripping growth of import prices, Russia’s economic losses from sanctions pressure are estimated at $18–21 bn.

Monday, 07.07.2025