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Dynamics of the Russian leasing market under sanctions

https://doi.org/10.35854/1998-1627-2024-11-1363-1375

Abstract

Aim. The work aims to assess the impact of sanctions imposed by Western countries on the Russian leasing market.

Objectives. The article systematizes the stages of introducing sanctions against Russia, reviews the leasing market over time through the lens of introducing sanctions, characterizes the change in key indicators of the leasing market, and formulates the main trends of the Russian leasing market under sanctions.

Methods. The study employes empirical and analytical methods, including the calculation of statistical indicators reflecting leasing market dynamics. Aggregated tables and diagrams are based on data from the Expert RA rating agency to demonstrate the extent of influence of sanctions on the dynamics of the Russian leasing market.

Results. Being introduced in 2014 and 2022, the sanctions had a short-term negative effect. Then, due to the low base, the leasing market showed double-digit growth rates. The average annual growth rate of new business during the period of sanctions against Russia was 17.42%, and the total leasing portfolio was 13.60%.

Conclusions. The sanctions did not have a significant impact on the total volume of the leasing market. The opposite effect rather occurred due to their introduction.

About the Author

A. S. Korshikov
VTB Leasing (JSC); Lomonosov Moscow State University
Russian Federation

Alexander S. Korshikov - corporate client relations manager; postgraduate student

6 Proizvodstvennaya st., Moscow 119619

1 Leninskie gory, Moscow 119991


Competing Interests:

 the author declares no conflict of interest 
related to the publication of this article



References

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Review

For citations:


Korshikov A.S. Dynamics of the Russian leasing market under sanctions. Economics and Management. 2024;30(11):1363-1375. (In Russ.) https://doi.org/10.35854/1998-1627-2024-11-1363-1375

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ISSN 1998-1627 (Print)