BOFIT Viikkokatsaus / BOFIT Weekly Review 2016/26
The impacts via real economy channels will only emerge gradually along with the Brexit process. The direct impact from Russia’s trade with the UK will be small, given that the UK only accounts for around 2‒3 % of Russian foreign trade. A much larger issue for Russia is how Brexit will affect economic growth in EU countries. The indirect effects of Brexit on the Russian economy and markets are hard to estimate in light of the great economic and political uncertainty surrounding the UK’s departure from the EU.