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ИД «Финансы и кредит»






Regional Economics: Theory and Practice

An analysis of the impact of sanctions on the Russian Federation's financial system

Vol. 22, Iss. 6, JUNE 2024

Received: 7 March 2024

Received in revised form: 5 May 2024

Accepted: 23 May 2024

Available online: 17 June 2024


JEL Classification: E44, F51, F65, G1

Pages: 1181–1202


Elena S. IVLEVA Saint-Petersburg University of Management Technologies and Economics (UMTE), St. Petersburg, Russian Federation


Anna Yu. RUMYANTSEVA Saint-Petersburg University of Management Technologies and Economics (UMTE), St. Petersburg, Russian Federation


Viktoriya V. SUKHACHEVA Saint-Petersburg University of Management Technologies and Economics (UMTE), St. Petersburg, Russian Federation

ORCID id: not available

Subject. This article examines the essence of international economic sanctions, their application in different periods, and methods for assessing their effectiveness.
Objectives. The article aims to find opportunities to overcome the negative consequences of the economic sanctions introduction against the Russian Federation.
Methods. For the study, we used the methods of comparative, post-hoc, and factor analyses.
Results. The article finds that due to the measures taken both at the level of the State and the business sector, the effectiveness of sanctions turned out to be relatively low.
Conclusions. Sanctions help identify the eternal shortcomings of the national economy, which creates conditions for a prompt response and the development of corrective measures.

Keywords: sanctions, Russian Federation, financial system, financial market


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