International Sanctions against Russia: Implicit Benefits

Author:

Ekimova N. A.1ORCID

Affiliation:

1. Financial University

Abstract

In this article, the analysis of the influence of international sanctions on the Russian economy is provided to identify and evaluate their positive effects. The author established some economic areas, where the noticeable improvement of the situation has happened and where exists the creative basis of domestic production. Further, the author analysed her findings on the base of some statistical data and some stylized examples. The opportunities of Russia to diversify trade markets, increase of foreign trade cooperation with the new partners. The author also showed improvement of the country’s food security on the example of changes in the geographical and commodity structure of trade turnover. There is an analysis of the positive trends in import substitution in such sectors as agriculture, military-industrial complex, ITindustry. Furthermore, some examples are given to demonstrate the capabilities of Russia in making the technological breakthrough that is necessary for the further development of the country. In conclusion, the author summarised the positive aspects of the influence of the sanctions and the inference about the need to turn towards the internal potential of the country, towards the search for the hidden reserves and opportunities.

Publisher

Financial University under the Government of the Russian Federation

Reference14 articles.

1. Russel M. Sanctions over Ukraine: Impact on Russia. EPRS: European Parliamentary Research Service. Briefing; 2018.

2. Gould-Davies N. Economic effects and political impacts: Assessing Western sanctions on Russia. Bank of Finland. BOFIT Policy Brief.2018;(8).

3. Christie E. H. The Design and Impact of Western Economic Sanctions against Russia. The RUSI Journal. 2016;161(3):52–64. DOI: 10.1080/03071847.2016.1193359

4. de Galbert S. A Year of Sanctions against Russia — Now What? A Report of the CSIS Europe Program; 2015.

5. Gladkov I. Foreign Trade of Russia in 2017: Return to Growth. Vlast’. 2018;(3):38–46. (In Russ.).

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