Written by Thorbjorn Waagstein
It looks as if sanctions haven’t had the expected disastrous consequences for Russia compared to say Iran, Venezuela and Cuba, at least in the short term. But what about the longer perspective? Will the Russian economy implode or stagnate? Or will it be able to survive and perhaps even prosper? History tells us that both scenarios are possible and that the outcome to a high degree depends on how well the situation is managed and the legitimacy of the political leadership.