On December 20, the Valdai Club hosted an expert discussion in Moscow, titled “Sanctions Against Russia: A Look to 2025”.
The EU has announced the adoption of the 15th package of unilateral restrictions against Russia, which included 54 individuals and 32 companies, including those located in China, India, Iran, Serbia and the UAE. Worsening economic sanctions against Russia had a notable effect on the Russian economy in 2024. The US, EU, UK and other initiators of unilateral restrictive measures expanded their lists of blocked Russian citizens and companies. The intensity of secondary sanctions against companies from third countries cooperating with Russia has noticeably increased. The main reason for their introduction was the supply of high-tech and industrial goods to Russia.
The pressure on foreign banks servicing transactions with Russia has increased. The bans on exporting to and importing from Russia are expanding. New criminal cases have emerged against Russian and foreign citizens who make deliveries in circumvention of sanctions. Moscow, for its part, is actively countering the sanctions, responding asymmetrically and building a new system of financial and trade relations with friendly countries.
What are the prospects for new financial mechanisms free from the influence of the United States and its allies? How will sanctions pressure affect Russia in 2025? In what case should we expect a radical increase in restrictive measures? What would a scenario for easing sanctions look like? The participants in the discussion tried to answer these and other questions.
Speakers:
Dmitry Timofeev, Director of the Department for External Restrictions Control of the Ministry of Finance of the Russian Federation
Arnaud Dubien, Director of the Observo Analytical Center
Anastasia Likhacheva, Dean of the Faculty of World Politics and World Economy, National Research University Higher School of Economics
Moderator:
Working languages: Russian, English.