Subject The article studies the conditions and technology of realization of the economic potential of the regions of the South of Russia, taking into account the systemic risks. Objectives The article's goal is to identify the terms of the positive possibilities of development of the regions of the South of Russia, taking into account specific regional risks and the expanding sectoral sanctions of the West. Methods For the study, we used a convergence of system, synergy, institutional, and endogenous approaches. Results We assessed the impact of the sanctions on the major economic blocs of the South regions of Russia. We show that the potential advantages of the regions of South of Russia, in the context of the political-economic response to Western sanctions, are determined by their powerful agro-industrial potential, because quite a large list of products gets covered by the import ban. Conclusions and Relevance Under the escalating economic pressure on Russia by the United States and European countries, the implementation of the proposed measures will contribute to the effective and efficient realization of the latent innovation potential of the southern Russian regions. The results of the research can be used to support the strategic directions of the industrial development of the regions of the South of Russia, develop regional socio-economic programs, and implement the measures to improve the innovation activities of enterprises and organizations.
Keywords: economic sanctions, innovative potential, region, interregional specialization, macroregion, clusters, South of Russia
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