The Effect of the Sanctions of the EU on the Russian-EU Trade

Although having experienced ups and downs, the EU-Russian trade has always been connected. Within the past years, this relationship has become closer, as both parties have intended to establish a mutual basis for cooperation and partnership. Latest developments in the Ukraine, however, have put this relationship under an endurance test, especially since economic sanctions have been imposed by both sides. In order to measure the impact of these, a preliminary empirical exploration and a brief literature review was undertaken.