INFLUENCE OF SANCTIONS ON THE RUSSIAN ECONOMY

Objective: to identify the background and nature of the sanctions imposed against Russia and their impact on the economy. Methods: the methodological basis of the research consists of general scientific methods of cognition, such as: analysis and synthesis, observation, comparison, system approach, expert evaluation, synthesis, contributing to the economic justification of the main conclusions and recommendations proposed in the article. Results: basing on the analysis of the preconditions for the sanctions imposed against Russia, the nature of sanctions is revealed and the definition of this concept is given. The main directions of the impact of sanctions are listed. The damage of the imposed bilateral sanctions to the country’s macroeconomic indicators is assessed. The importance of sanctions is identified and the need for the introduction of counter-sanctions by Russia is determined. The positive and negative consequences from the sanctions imposition are systematized. The factors are determined that can accelerate the economic recovery of Russia under crisis. Scientific novelty: systematization of knowledge about the nature of sanctions; determination of the factors and measures that can accelerate the economic recovery of Russia. Practical significance: the main provisions and conclusions of the article can be used in research and practice when dealing with issues about the nature and trends in economic development and the further development of Russia's anti-crisis program.

sanctions, political crisis, economic crisis, import substitution, welfare of the population, income from oil and gas, standard of living, credit rating of Russia

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