Вестник университета (Aug 2024)
Changing the vector of Russia’s foreign economic activity in the context of growing anti-Russian sanctions
Abstract
The article examines the change in the direction of foreign economic activity (hereinafter referred to as FEA) of the Russian Federation (hereinafter referred to as RF, Russia) in the current conditions of growing anti-Russian sanctions. The relevance of the study lies in assessing transformations in the FEA vector of Russia in the context of expansion of these sanctions, initially introduced in 2014, and their strengthening after the start of the special military operation in Ukraine in 2022. The purpose of the article is to explore causes, directions, and consequences of the changing vector amid the growing restrictions. The subject of the study is current directions of the FEA and their transformation under the influence of the anti-Russian sanctions. The objectives of the article include: analysis of the present Russian FEA vectors; consideration of factors determining their change; modern trends in the foreign trade activities of the RF; assessment of promising directions of the transformation in the Russian FEA; assessment of the impact of the anti-Russian sanctions on the structure and vectors of Russia’s foreign trade activities; influence of the restrictions on the country’s banking sector. The study is based on the analysis of the legislative framework on the Russian FEA, relevant publications on the FEA and statistical information from the Federal Customs Service of the RF. The article considers the main provisions of the modern regulatory framework governing the FEA, foreign trade turn-over of Russia with friendly and unfriendly countries. In conclusion, the article notes the process of transformation of the Russian FEA which consists of its reorientation to states that did not support sanctions against Russia and further development of foreign economic relations with the countries of the Eurasian Economic Union, Shanghai Cooperation Organisation, BRICS (Brazil, Russia, India, China, South Africa), and other friendly states.
Keywords
