Home  Journals  Regional Economics: Theory and Practice  8(515) - 2023 August

Global sanctions in the context of Russia's economic security

Received: 19 June 2023

Received in revised form: 11 July 2023

Accepted: 27 July 2023

Available online: 15 August 2023

Subject Heading: ECONOMIC SECURITY

JEL Classification: P27

Pages: 1478–1504

https://doi.org/10.24891/re.21.8.1478

Subject. The article considers problems of overcoming Russia's technological dependence on Western countries.
Objectives. The purpose is to develop a strategy to minimize the impact of international sanctions on various sectors of Russia.
Methods. In the study, we employ methods of logical and statistical analysis.
Results. We determined that the import substitution policy is most successfully implemented in agriculture, the defense and space industries, nuclear energy, and pharmaceutical industry.
Conclusions. It is important to more actively develop industries that can strengthen Russia's technological independence. Strengthening of relations with friendly countries in Asia and Africa will enable to expand sales markets and reduce the risks associated with sanctions.

Keywords: sanctions legislation, extraterritoriality, export, import, economic security

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