Austrian scientists predicted a global recession in the event of “nuclear” sanctions against Russia
Photo: Heinz-Peter Bader / Reuters
Scholars from the Vienna Institute for International Economic Research have described two possible scenarios for Russia's “invasion” of Ukraine and their consequences. RBC writes about it.
According to experts, there are basic and unfavorable scenarios. In the first case, the “invasion” will be limited to the regions in the south-east of Ukraine, cyber attacks are possible. In response, the West may impose relatively mild sanctions against Moscow, including restrictions on the banking sector and government debt in the secondary market, analysts said. In addition, Western countries will provide even more assistance to Ukraine.
At the same time, experts allowed a scenario in which “mutually guaranteed destruction” of the economies of Russia and the European Union is possible. Scientists predicted that in the event of a full-scale invasion, the West would respond with “nuclear” sanctions. At the same time, the most stringent measure will be a ban on the import of oil and gas from Russia and a ban on the commissioning of the Nord Stream 2 gas pipeline. However, this will lead to rapid inflation and a global recession, experts warned.
Earlier, the countries of the Group of Seven (G7) announced their readiness to impose tough economic sanctions against Moscow in the event of an invasion of Russian forces into Ukraine. The G7 finance ministers' statement stressed that the G7 states intend to act quickly and decisively to support the Ukrainian economy and efforts to de-escalate tensions with Moscow through diplomatic dialogue.
