The conflict between Russia and Ukraine that started in March 2014 resulted in bilateral economic sanctions imposed by … Russia and Western countries, including the members of the euro area (EA). The paper investigates the impact of sanctions on … the real side of the economy of Russia and the EA. Using an index that measures intensity of sanctions the effects of …

sanctions on each other, including the euro zone members. The paper investigates the impact of the sanctions on the real side of … the economies of Russia and the euro area. The effects of sanctions are analyzed with a structural vector autoregression …. To pin down the effect we are interested in, we include an index that measures the intensity of the sanctions in the …