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Lyubovtseva E.G., Gordeeva I.A.
The Impact of Sanctions on the Development of Russian Economy: Opportunities and Restrictions
Keywords: sanctions, economy, economic sectors, opportunities, restrictions, impact of sanctions
The industries that have suffered the most from the introduction of sanctions against Russia by foreign countries are considered. The consequences of sanctions on the Russian economy are examined. The positive aspects of restrictive measures introduction by unfriendly states are studied. The main parameters of the Russian economy development in accordance with the forecast of the Central Bank of the Russian Federation in the framework of the baseline scenario are considered. The relevance of the research lies in the fact that the sanctions imposed by Western countries for several years have had a direct impact on the economic development of Russia. If in the period between 2008 and 2014 the sanctions hit the economy quite hard, then Russia was already prepared for the sanctions of 2022, which makes it possible to develop measures to restore the country's economy right now. On the one hand, sanctions restrict the development of Russian industries, and on the other hand, they provide opportunities for its development, especially in terms of import substitution. For Russian economy today, the task of launching new production facilities within the country and reducing the level of dependence on imports is more urgent than ever, which will have a positive impact on all its indicators.
References
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About authors
- Lyubovtseva Elena G.
- Candidate of Economics Sciences, Associate Professor, Department of Finance, Credit and Economic Security, Chuvash State University, Russia, Cheboksary (lyubovceva_elena@mail.ru; ORCID: https://orcid.org/0000-0003-2408-1442)
- Gordeeva Irina A.
- Assistant Lecturer, Department of Finance, Credit and Economic Security, Chuvash State University, Russia, Cheboksary (irina.alexandrovna92@mail.ru; )
Article link
Lyubovtseva E.G., Gordeeva I.A. The Impact of Sanctions on the Development of Russian Economy: Opportunities and Restrictions [Electronic resource] // Oeconomia et Jus. – 2022. – №3. P. 8-14. – URL: https://oecomia-et-jus.ru/en/single/2022/3/2/. DOI: 10.47026/2499-9636-2022-3-8-14.
