Are Western sanctions working on Russia’s growing economy?

IMF forecasts Russian growth but one expert says the West must be patient in bid to deter Putin

Oil tankers
A Russian-flagged oil tanker Lana (right) detained in Greek waters in May 2022
(Image credit: Angelos Tzortzinis/AFP via Getty Images)

Sanctions against Russia might not be having the impact the West had hoped after a forecast by the International Monetary Fund suggested the country’s economy is already returning to growth.

According to the IMF, Russian output will expand by 0.3% this year and 2.1% next year, defying earlier predictions and eclipsing the performance of the British economy, which is expected to contract by 0.6% this year.

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Arion McNicoll is a freelance writer at The Week Digital and was previously the UK website’s editor. He has also held senior editorial roles at CNN, The Times and The Sunday Times. Along with his writing work, he co-hosts “Today in History with The Retrospectors”, Rethink Audio’s flagship daily podcast, and is a regular panellist (and occasional stand-in host) on “The Week Unwrapped”. He is also a judge for The Publisher Podcast Awards.