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Ukraine war

Russian export shutdown would cut 28% of GDP: Nikkei estimate

Energy imports by West hold key to maximizing Moscow's economic pain

An employee inspects a wellhead at an oil field in Irkutsk, Russia. Energy-related exports make up around half of Russian exports.   © Reuters

TOKYO -- Completely cutting off exports from Russia via sanctions would be equivalent to lopping off as much as $460 billion from its economy, according to an estimate by Nikkei and the Japan Center for Economic Research.

This tally, which includes both goods and services, equates to 28% of Russia's nominal gross domestic product. The estimate is based on data from the Organization for Economic Cooperation and Development.

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