Russia’s recent activities have captured the attention of the world. It’s role in destabilizing Ukraine have earned it economic sanctions from the U.S. and European Union. And Russia has returned fire with economic sanctions of its own, including sweeping bans on food imports from the west. While these sanctions are likely to impact Russia and some of its trading partners materially, they are also likely to have a surprisingly small impact on the global economy as a whole. “In principle, the size of Russia’s economy—less than 3% of global GDP—suggests a limited impact on the global economy,” writes Barclays’ Christian …read more
Source: Business Insider
