The sanctions the U.S. has threatened to impose in case of Russian aggression against Ukraine could lead to high inflation, a crash of the Russian stock market, and other forms of “financial panic,” analysts polled by The New York Times claim.
Edward Fishman, a former expert on sanctions in the State Department, said that restrictions against major Russian banks would affect the country’s entire economy and the lives of Russians.
He notes that the sanctions, which will limit the ability to export Russian oil and gas, will be a powerful weapon against the Russian economy and probably the most effective economic “deterrent” against the invasion of Ukraine.
Experts expect the U.S. measures to raise food and clothing prices in Russia, cause the Russian ruble or Russian markets to collapse, and negatively affect pension payments and savings.
“It would be a disaster, a nightmare for the domestic financial market,” said Sergey Aleksashenko, former deputy chairman of the Russian Central Bank.
At the same time, experts believe that a “quick and harsh” response to Washington could shock the economies of developed countries, especially in Europe, and threaten the stability of the global financial system.
belsat.eu
