It's difficult to quantify the damage Western economic sanctions have done to Russia. The country's slump is almost exclusively due to a drop in oil prices, which has led to a sharp currency devaluation and a jump in interest rates. Yet the sanctions have fueled the Kremlin's paranoia, lending Russia's economy an aura of autarchic defensiveness.
Russian exports are down 31.9 percent in January through September, and imports have dropped 38.8 percent. One could argue that this downturn in foreign trade is due to the ruble's devaluation. Self-isolation, however, has played a major role, too.
One form of this self-isolation is unilateral trade restrictions like President Vladimir Putin's vindictive and ineffective food embargo against countries that have sanctioned Russia. Another is the country's increasing financial lockdown.
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