+7 925 966 4690, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»






National Interests: Priorities and Security

The anti-American potential of the Russian economy in the BRICS structure

Vol. 18, Iss. 9, SEPTEMBER 2022

Received: 5 May 2022

Received in revised form: 19 July 2022

Accepted: 6 August 2022

Available online: 15 September 2022


JEL Classification: F02, F15, F29, F37, F40

Pages: 1720–1737


Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation


Subject. The article addresses the stability of the Russian economy in the face of sanctions.
Objectives. The purpose is to assess the prospects for Russia's reorientation to the markets of Africa, Asia, and Latin America.
Methods. The study draws on methods of statistical analysis.
Results. The paper establishes that in terms of the dynamics of the main financial and economic indicators, Russia is significantly inferior to Brazil, India, and China. The most important indicator for the Russian economy is the volume of imports of goods and services.
Conclusions. The findings can be used by public authorities as part of a policy aimed at reducing the dependence of the Russian economy on Western countries.

Keywords: BRICS, significant relationship, risk compensation, rate of gain


  1. Obichkina E.O. Vneshnyaya politika Frantsii ot de Gollya do Sarkozi (1940–2012): monografiya [French foreign policy from de Gaulle to Sarkozy (1940–2012): a monograph. Moscow, Aspekt Press Publ., 2012, 382 p.
  2. Zharikov R.V., Аl-Yawar A.A., Bezpalov V.V. [Modern problems of development of the global and regional economy under sanctions and threats of global challenges]. Upravlencheskii uchet = Management Accounting, 2021, no. 12-4, pp. 921–927. (In Russ.) URL: Link
  3. Ustinovich E.S. [US sanctional economic policy as a geopolitical reality.] Mezhdunarodnaya ekonomika = The World Economics, 2021, no. 4, pp. 245–252. (In Russ.) URL: Link
  4. Timofeeva Yu.S. [US sanctions against financial companies: Key features]. Finansovyi zhurnal = Financial Journal, 2021, vol. 13, no. 4, pp. 39–51. (In Russ.) URL: Link
  5. King A.P., Eckersley R.J. Chapter 1: Descriptive Statistics I: Univariate Statistics. In: Statistics for Biomedical Engineers and Scientists: How to Visualize and Analyze Data. Academic Press, 2019, pp. 1–21. URL: Link
  6. Brownstein N.C., Adolfsson A., Ackerman M. Descriptive Statistics and Visualization of Data from the R Datasets Package with Implications for Clusterability. Data in Brief, 2019, vol. 25. URL: Link
  7. Favero L.P., Belfiore P. Chapter 3: Univariate Descriptive Statistics. In: Data Science for Business and Decision Making. Academic Press, 2019, pp. 21–91. URL: Link
  8. Urlacher B.R. Complexity, Causality, and Control in Statistical Modeling. American Behavioral Scientist (ABS), 2020, vol. 64, iss. 1, pp. 55–73. URL: Link
  9. Favero L.P., Belfiore P. Chapter 11: Cluster Analysis. In: Data Science for Business and Decision Making. Academic Press, 2019, pp. 311–382. URL: Link
  10. Adolfsson A., Ackerman M., Brownstein N.C. To Cluster, or Not to Cluster: An Analysis of Clusterability Methods. Pattern Recognition, 2019, vol. 88, pp. 13–26. URL: Link
  11. Kornilov V.I., Kukina N.V. [Russian Federation globalization project (political and economic aspects)]. Teoreticheskaya ekonomika, 2021, no. 2, pp. 81–93. (In Russ.) URL: Link
  12. Dzhabiev A.P. [The BRICS transcontinental association is an innovative format of international economic partnership without sanctions policy]. Ekonomika i upravlenie: problemy, resheniya = Economics and Management: Problems, Solutions, 2022, vol. 1, iss. 2, pp. 93–103. (In Russ.) URL: Link
  13. Espinosa K.Ya. [BRICS as agents of reforms of the international system and trade relations of Venezuela with 4 its participants under sanctions and economic blockade]. Finansovyi biznes =Financial Business, 2021, no. 12, pp. 110–114. (In Russ.)
  14. Pishchulin N.S. [Statistical assessment of the foreign economic activities of the Russian Federation from the Chinese People’s Republic and the Republic of India]. Finansovye rynki i banki = Financial Markets and Banks, 2022, no. 2, pp. 28–34. URL: Link (In Russ.)
  15. Noha V.I. [Key dominants and vectors of the implementation of the mechanisms of scientific and technological cooperation of the BRICS countries]. Vestnik MIRBIS, 2022, no. 1, pp. 29–39. (In Russ.) URL: Link
  16. Bagheri S., Akbarpour H.R. Reinvestigation of the West's Sanctions against Russia in the Crisis of Ukraine and Russia's Reaction. Procedia Economics and Finance, 2016, vol. 36, pp. 89–95. URL: Link30019-3
  17. Nguyen T.T., Do M.H. Impact of Economic Sanctions and Counter-Sanctions on the Russian Federation’s Trade. Economic Analysis and Policy, 2021, vol. 71, pp. 267–278. URL: Link
  18. Bělin M., Hanousek J. Which Sanctions Matter? Analysis of the EU/Russian Sanctions of 2014. Journal of Comparative Economics, 2021, vol. 49, iss. 1, pp. 244–257. URL: Link
  19. Vatansever A. Put over a Barrel? “Smart” Sanctions, Petroleum and Statecraft in Russia. Energy Research & Social Science, 2020, vol. 69. URL: Link
  20. Crozet M., Hinz J., Stammann A., Wanner J. Worth the Pain? Firms’ Exporting Behaviour to Countries under Sanctions. European Economic Review, 2021, vol. 134. URL: Link

View all articles of issue


ISSN 2311-875X (Online)
ISSN 2073-2872 (Print)

Journal current issue

Vol. 20, Iss. 2
February 2024