@joshtpm That's the crux of Russia's growth quandary: sanctions don't bite much b/c they can easily export raw materials (priced in dollars) to cover cost of domestic liabilities/defense spending (priced in rubles). W practically no sovereign debt, they prob can sustain this indefinitely
@joshtpm Russia needs major structural reforms if it's going to grow more than 1.5-2% per year. But doing that is unpalatable since it would mean less political control at a time when the country is preparing for the slow-motion transition to post-Putin era. #stuck cc @IikkaKorhonen
@joshtpm @IikkaKorhonen Recent Carnegie research paper on the post-2014 impact of sanctions on the Russian economy, options for further Congressional action. Self-made Trump mess today may put new sanctions back in play @JarrettBlanc carnegieendowment.org/2019/04/03/u.s…
