Russia’s economy has been “catastrophically crippled” by western sanctions and the mass exodus of international companies, according to a Yale University study.
“Russia has lost companies representing ~40% of its GDP, reversing nearly all of three decades worth of foreign investment,” write researchers at the Yale School of Management, adding that this situation has been worsened by an “unprecedented” capital and population flight, Euronews reports.
Some experts and politicians in the West have raised concerns about Russia’s supposed economic resilience and suggested that sanctions are not affecting Russia enough to warrant the damage they are causing those who apply them.
One reason for this, claims the Yale School of Management, is that the Kremlin has “cherry-picked” its economic releases, “tossing out unfavourable metrics while releasing only those that are more favourable.”
