Open letter of Russian economists against the war with Ukraine

We, the community of economists working at universities and research centers in Russia and abroad, declare a strong protest against the war launched on February 24, 2022 by the Russian authorities against Ukraine. We demand an immediate cessation of hostilities and the withdrawal of Russian troops from Ukraine.

1.        The attack on Ukraine is an act of groundless aggression against a neighboring sovereign state.

2.        War is a catastrophe for the peoples of both countries. These are irreparable losses of human lives, both military and civilians, as well as incurable psychological trauma for survivors of the war.

3.        As economists, we can confidently predict the most serious negative consequences for the Russian economy – rising prices, falling income and investment, impairment of savings, further reduction of social spending, accelerating loss of human capital as a result of emigration. Economic costs for Russia will be an order of magnitude higher than missed opportunities in the previous decade of economic stagnation.

4.        We believe that the actions of the Russian leadership cause huge damage to Russia’s future. By unleashing a war against Ukraine, Russian leaders act against the interests of Russian citizens. We demand an immediate end to the aggression!