THE CURRENT STATE OF THE RUSSIAN ECONOMY UNDER THE CONDITIONS OF SANCTIONS AND PROSPECTS FOR ITS DEVELOPMENT

Author(s): Sobol T.S., Sharay A.I.

Rubric: Economy

DOI: 10.21777/2587-554X-2023-1-7-15

Release: 2023-1 (44)

Pages: 7-15

Keywords: economic sanctions, sanctions policy, the consequences of anti-Russian sanctions, the Russian economy, inflationary processes in the country, inflation rates, sanctions restrictions, prospects for the development of the Russian economy

Annotation: For nine years, Russia has been under the influence of sanctions imposed by a number of European countries and the United States. From 2014 to 2022, sanctions were put forward by the world community, which had a significant impact on all spheres of the country’s public life. At the same time, there is a gradual transition from targeted restrictions on individuals and enterprises to blocking entire sectors of the Russian economy. The consequences of the imposed sanctions seriously affect the Russian economy. The article analyzes the impact of anti-Russian sanctions on the country’s economy. It was noted that the sanctions impact on the country’s economy was reflected in the reduction in GDP, inflation growth, reduction in imports, and reduction in the volume of Russia’s foreign trade. The article analyzes the prospects for the development of the country’s economy in the context of ongoing sanctions. A possible scenario for further development is proposed, taking into account adaptation to the modern realities of economic development.

Bibliography: Sobol T.S., Sharay A.I. THE CURRENT STATE OF THE RUSSIAN ECONOMY UNDER THE CONDITIONS OF SANCTIONS AND PROSPECTS FOR ITS DEVELOPMENT // Economics and Management. – 2023. – № 1 (44). – С. 7-15. doi: 10.21777/2587-554X-2023-1-7-15