Russia’s Path to Credit Strength Amid Biting Sanctions

PGIM Fixed Income

May 2019

Giancarlo Perasso Lead Economist, CEEMA Region, Global Macroeconomic Research Team, and Mehill Marku Senior Investment Strategist

Almost five years ago, the United States and the European Union imposed biting sanctions on Russia following its annexation of Crimea, and more sanctions have been added in the subsequent years. However, the Russian economy appears relatively resilient, and the government has yet to experience an obvious popular backlash. Given the state of the Russian economy and the uncertainties that lie ahead, Giancarlo Perasso Lead Economist, CEEMA Region, Global Macroeconomic Research Team, and Mehill Marku Senior Investment Strategist analyze how Russia has coped with the sanctions thus far, what might lie ahead in the coming months and years, and how this might affect its strong credit profile going forward.

 

 

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