Russia's Economy under Sanction:Plight and Response

Gao Jixiang

Abstract: The article delves into the six predicaments Russia confronted in its economic development in 2014 from both internal and external perspectives and expounds three intractable issues in Moscow's future policy choice based on the five measures the Kremlin had adopted to deal with the ongoing economic plight.

Keywords: Russia, sanctions, economic plight, policy conundrums

2014 was an unusual year for Russia as a substantial slump in international oil prices and several rounds of sanctions initiated by the US-led West created numerous difficulties for the country. How to confront the severe challenges and adopt effective countermeasures to improve the current economic scenario has become an urgent task for President Vladimir Putin and his government members.