THE IMPACT OF WESTERN SANCTIONS ON ORDINARY RUSSIANS

The daily life of ordinary Russians not just the country’s political elite or super rich oligarchs will be affected. All in all, this amounts to a grim scenario for Russian consumers and businesses. The economy is likely to plunge into recession. The new sanctions will severely impact the living standard of ordinary Russians. No matter how much money Russians have, they cannot transfer it abroad, they cannot get it out of their bank, and there’s nowhere to invest. The longer it goes, the more difficult it will become.