Economist Astrov’s blunt verdict: “Russians are hurting themselves more than Western sanctions”

Vasily Astrov’s verdict is stark: Russia’s own decisions are damaging its economy more than Western sanctions. The economist from the Vienna Institute for International Economic Studies made the assessment in a new episode of Die Presse’s Russia podcast.

The comments come as the war in Ukraine shows signs of escalation and the confrontation between Europe and Russia sharpens. Inside Russia, however, economic conditions are no longer running smoothly, particularly for Vladimir Putin’s government.

A series of ideas and policy concepts has emerged in Russia in recent days, aimed at overcoming stagnation and pulling the economy out of trouble. But Astrov argues that the causes of the crisis are not always discussed openly. In his view, examples from Russian policy suggest that the country is acting in a self-destructive way.

The debate has added relevance as the European Union considers tightening its sanctions regime after 21 packages. A new study published in Russia has also attempted to quantify the effects of Western sanctions, reaching a conclusion that differs sharply from that of EU foreign policy chief Kaja Kallas.

The same podcast features Russia expert Gerhard Mangott of the University of Innsbruck. He discusses the likelihood of a large-scale Russian attack on a NATO country, whether Putin still acts rationally, and what is making Russia’s ruling apparatus “somewhat unstable.”

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Russians are hurting themselves more than Western sanctions.