Short- and long-term implications of economic sanctions against Russia imposed after 24-th of February 2022 (based on the Business Media Network case)

Abstract

This work explains the Short- and long-term implications of economic sanctions against Russia imposed after 24-th of February 2022. It contains theoretical theses about the topic in the first chapter, including the early stages on the Russian invasion on Ukraine, Ukraine’ and Russia’s economy before the sanctions imposed on Russia and a part which numerates the economic sanctions imposed on Russia. The second chapter is practical, explaining the base of the practice at the company Business Media Network (BMN), and how this enterprise would benefit from the sanctions imposed on the Russian economy, as well as the Short- and long-term implications of economic sanctions against Russia and its effects on the Ukrainian economy. The third chapter is specified in explaining the impact of those sanctions on the world’s economy; its impact specifically on the European Union, the US and the Pacific region. The report focuses overall on the economical losses, changes and difficulties since Russia invaded Ukraine and was faced with those strict sanctions and how it generally affects international economic relations.