With the deepening of globalization, the exchanges between countries are more frequent and closer, and the degree of mutual dependence is increasing, which makes it possible for some countries to realize their national interests by using economic sanctions. Based on the Consumer Price Index (CPI) in Russia, this paper studies the impact of economic sanctions on inflation in Russia, and uses the constant mean model, the three-factor model and the four-factor model in the event study method to measure the effect. The study found that in the early stage of the implementation of economic sanctions, the adverse impact on inflation in Russia gradually increased, but with the passage of time and the implementation of Russia’s counter-sanctions, this adverse impact increased to a certain extent and began to slowly weaken, and later completely offset, however, the overall adverse impact of economic sanctions on the Russian economy has not been completely eliminated. In the future, China should strengthen the publicity of public opinion, accelerate the construction of domestic and international double cycle of new development pattern, increase investment in science and technology and optimize the international trade cooperation mechanism so as to better cope with the possible economic sanctions impact.