The Russia Monitor is the outcome of research cooperation undertaken by the Vienna Institute for International Economic Studies (wiiw, coordinator), the Kiel Institute for the World Economy (IfW)), the Leibniz Institute for Economic Research (ifo) and the Austrian Institute of Economic Research (WIFO)), and funded by the German Federal Ministry for Economic Affairs and Climate Action (BMWK).
It was developed in response to Russia’s invasion of Ukraine and the sanctions that were imposed by the EU and other states on Russia with the aim of restricting its ability to wage war and of raising the political and economic costs for the country's elites.
Against this background, the project was set up to create a database of macroeconomic indicators to continuously and systematically monitor key developments in the Russian economy and to assess the effects of the sanctions up until April 2024. Carefully selected indicators from multiple sources were compiled, evaluated with regard to their credibility and relevance, and cross-checked with alternative data.
The database encompasses Russian exports and imports (including of sanctioned and dual-use goods), the state budget, production sector, domestic demand, labour market, price developments and financial markets.
On the basis of this database, wiiw launched a monthly Russia Monitor publication series to analyse the key features and trends in the Russian economy. The ifo Institute also published project reports within its CESifo EconPol policy report series.
The views expressed in these reports are those of the authors and do not necessarily reflect the views of the Federal Ministry for Economic Affairs and Climate Action or the minister.