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EU trade with Russia before and after imposition of sanctions
Hrubá, Andrea ; Němcová, Ingeborg (advisor) ; Procházková Ilinitchi, Cristina (referee)
The topic of this thesis is the EU trade with Russia before and after imposition of sanctions. In 2014, the European Union, together with other countries, imposed sanctions against the Russian Federation in response to the Russian aggression in the eastern part of Ukraine and illegal annexation of Crimea. Shortly afterwards, Russia responded by introducing the counter-sanctions. This thesis focuses on European Union´s trade relations with Russia since 2002 to 2016 in order to identify and evaluate the impact of sanctions and counter-sanctions on EU trade and investments with Russia and EU and Russia economy. The impact of sanctions on EU and Russia economies is assessed on the basis of two statistical calculations. Firstly, the impact of sanctions and counter-sanctions is examined through the calculation of the correlation coefficient of the foreign trade balance and the growth rate of GDP. Secondly, the impact of sanctions on the economy is assessed by comparing estimated future development of the GDP growth rate and the real GDP growth rate. The end of the thesis gives examples of Czech companies, that were influenced by the sanctions and counter-sanctions and shows possible solution for European entrepreneurs in searching for new, alternative markets.
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