Subject The article presents the major areas of metal manufacturers' innovative development under globalization and imposed sanctions. Objectives The study aims to assess the impact of sanctions imposed by the EU and USA on the innovative development of metallurgical enterprises and to develop recommendations for the RF Government on how to choose enterprises to provide financial support. Methods We assessed the innovative development of eight metallurgical enterprises over 2007-2013 based on the calculation of the integral index of innovative development under the widely used method of weighting coefficients. Results We considered positive influence of globalization on Russia's development, analyzed negative effects of the globalization and the influence of world crises on the applied development model of the Russian economy, assessed the impact of sanctions on metallurgical enterprises. Based on our calculations, we ranked eight metallurgical enterprises in terms of their innovative development level, and identified factors having the greatest impact on innovative development of metallurgical enterprises. Conclusions The scholarly importance of the study is in the analysis of the impact of crises and sanctions on the economic development of Russia, and the use of the proposed method of integral index calculation for enterprise's innovative development assessment. The practical value is in the developed recommendations on choosing enterprises eligible for financial support.
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