Eighth sanctions package: Which side will be the economic loser?

The effects of the sanctions on the Russian economy have been assessed over the long run, as well as in the short term and in the medium term. [...] A brief glance at the Schengen agreement between Russia and the EU On May 25, 2006, the Schengen Agreement was signed in Sochi between the Russian Federation and the European Community on the facilitation of the process of issuing visas to the citizens of the Russian Federation and the European Union. [...] The purpose of the Schengen agreement covers: o Any member state of the European Union is referred to as a member state, with the exception of Ireland, Northern Ireland and the United Kingdom of Great Britain, and the Kingdom of Denmark; o A resident of a Member State as indicated in item (a) is referred to as a "citizen of the European Union"; o "Citizen of the Russian Federation" refers to a per. [...] o "Legally residing person" is defined as: — for the Russian Federation, a member of the European Union who obtained a residence permit, an educational or work visa, or a license for temporary stay for a duration of more than 90 days in the Russian Federation, — in the case of the European Union, a resident of the Russian Federation who has been granted permission or a right to remain for a period. [...] References Agreement between the European Community and the Russian Federation on the facilitation of the issuance of visas to the citizens of the European Union and the Russian Federation.