Importance Considering the global economic volatility and sanctions against Russia, the national economic security gains special relevance. The issues are of high scientific, practical, and social significance, since they allow identifying possible gaps in the economic security of modern Russia, thereby timely devising mechanisms for eliminating them and protecting the State's national interests. Objectives The research pursues determining the condition and prospects of improving the economic security of Russia. To do this, the following objectives should be addressed: to examine the existing approaches to defining the economic security of the nation, conduct SWOT-analysis of economic security of modern Russia, and provide our recommendations for increasing it. Methods Using the methods of induction, deduction, synthesis, problem, comparative and SWOT analysis, we reviewed various aspects of the economic security of modern Russia. Results Following the research, we forged our own comprehensive approach to ensuring the economic security of the nations, and economic security matrix as part of the approach. We also propose a mechanism for improving the economic security of modern Russia. Conclusions and Relevance To overcome threats to the economic security, modern Russia needs to implement our recommendations, i.e. starting domestic production, building an innovative model of economy and cooperating with emerging economies of Asia. It will help ensure the economic security of modern Russia and its sustainable development in the future.
Keywords: country risk, WTO, sanctions, economic security
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