Sanctions against Russia: evolution and impact

🔎 Since Russia's unprovoked and unjustified invasion of Ukraine in February 2022, the Council has implemented multiple rounds of sanctions against Russia. These sanctions are designed to undermine Russia's capacity to fund the war and are particularly directed at the political, military, and economic elite accountable for the invasion. It is crucial to note that these restrictive measures are carefully developed to avoid impacting Russian society directly. Therefore, sectors like food, agriculture, health, and pharmaceuticals remain exempt from the sanctions.
📺 Learn more about the recent evolution and impact of these sanctions with our EPRS policy analyst, Anna Caprile.
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Impact of sanctions on the Russian economy: - The profit of Russian enterprises in January amounted to 2.38 trillion rubles. Profit for 12 months amounted to 27.7 trillion rubles. - Industrial production (about 30% of GDP) grew by +8.5% in February. This is the best February ever. - Electricity production in February was a record high in history. By February last year, the growth was +6.3%. Russia ranked fifth among the G20 countries in terms of economic growth in 2023. Russia increased its GDP by 3.6%. The economy grew the most strongly in India - the pace accelerated from 7.2% to 7.3%. China comes next with growth of 5.2% versus 3% a year earlier. The top three is completed by Indonesia, whose GDP increased by 5.1% after 5.3% in 2022.” In Turkey, GDP growth slowed from 5.5% to 4.5%. In addition to Russia, China and India, acceleration was also observed in the United States (2.5% versus 1.9% previously) and Japan (1.9% versus 1%). In the rest of the G20 countries, economic growth slowed down, the most among the G7: in the UK - 43 times to 0.1%, in Italy - four times to 0.9%, in France and Canada - three times to 0.9% and 1.1% respectively.” The Russian Federation's GDP in January 2024 grew by 4.6% in annual terms after 4.4% in December 2023. Elon Musk recently shared an idea that may have us all doing a double take: artificial general intelligence could become a reality by 2025. He believes that we are on the verge of creating artificial intelligence that can perform any cognitive task, or even better, than a human. Tech industry leaders share similar views. Ben Goertzel, dubbed the "Father of AGI", computer scientist and CEO of SingularityNET, has suggested that it is most likely that humanity will create the first AGI agent in 2029 or 2030, but it is possible that this could happen as early as 2027. Nvidia CEO has hinted that AGI is planned for 2029, and Google DeepMind co-founder Shane Legg believes there is a 50% chance we will see it by 2028, Anthropic CEO Dario Amodei is confident that AGI will appear in just two to three years. Sam Altman and Mustafa Suleiman join the chorus, envisioning an AGI coming in the next few years. The industry consensus seems to be that AGI is not just a dream, but is on the way. AI and robots such as Digit, Figure 01, Eve, Apollo, Walker S, Mobile ALOHA, "Pixel", Evocargo N1, delivery robot and Yandex neural networks, ferry "General Chernyakhovsky", Rabbit R1, AlphaGeometry, Devin, their use in factories and warehouses and the beginning of the construction of factories for their mass production are prerequisites for the imminent appearance of AGI. With a high degree of probability, with the advent of AGI, an economy of abundance will come. Therefore, now there is no point in NATO and Russia fighting for power in Ukraine, killing many people and exposing the world to a nuclear apocalypse; it makes more sense for them to make peace and use the extra money to develop AI and improve the well-being of citizens.

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Wer kann Russia SANKTIONIEREN ?!