Anti-Russian sanctions affect global trade situation — IMF
“The sanctions are having a very large impact on Russia itself as well,” IMF Economic Counselor Pierre-Olivier Gourinchas noted
Sanctions introduced by the Western states against Russia have a serious impact on the global economy at large and on the trade, particularly in energy resources, IMF Economic Counselor Pierre-Olivier Gourinchas said at the briefing on Tuesday.
“The war [in Ukraine] and the sanctions [against Russia] are having a very large impact on the global economy. They are the main factor contributing to our overall downward revision here [for the global economic development forecast – TASS], ahead of other forces like the slowdown in China or a faster tightening of monetary policy in advanced economies.
So certainly this is having an effect through energy and commodity prices through trade linkages, affecting close trading partners so the European economies are affected through their energy trade links to Russia, through remittances for countries in Caucasus and Central Asia, or through the refugee crisis for all these channels,” the expert said.
“The war and the sanctions are having a very large impact. The sanctions are having a very large impact on Russia itself as well,” Gourinchas added
