Additional pressure on the Russian economy also had a drop in world oil prices.
Western sanctions against Russia had a negative impact on the state of the Russian reserve funds, large companies and investment climate. This is stated in the study of the American state Department.
For two years the operating profit of sanctioned companies and the number of staff fell by a third and assets by half.
It is noted that additional pressure was also provided by the fall in world oil prices.
In addition, the economic constraints the US and the EU against Russia has reduced the volume of Russian assets. Earlier, the Russian authorities have repeatedly stated that the reserve Fund could be depleted in 2017.
Another negative effect of the sanctions was the “uncertainty” in the market where investors try to avoid investments in Russia.
At the same time, the state Department believes that the Russian economy is on the verge of a “systemic” crisis.
“The probability of bankruptcy of sanctioned companies has grown by only 2-3 per cent, with the destruction of strategically important organizations is extremely unlikely,” the report says the state Department.
