Vladislav Inozemtsev, from the Center for Post-Industrial Studies in Moscow, said the likely outcome is a retreat into autarky and pauperised decline, ending in withdrawal from the global trading system. “This way leads us towards a quasi-Soviet economy detached from the world and, at the same time, proud of its autarky; towards a deteriorating economy which compensates for the drop in living standards with pervasive propaganda,” he wrote.