TRADE WAR AND SANCTIONS: CONSEQUENCES FOR THE RUSSIAN AND EUROPEAN ECONOMIES

Abstract

The article presents an analysis of the impact of the trade and sanctions war, which began in 2022, on global economic processes. A review of studies is given in which, using methods of economic and mathematical modeling, the consequences of what is happening for the global economy, as well as the farms of Russia and the European Union in the short and long term are quantified. Of particular interest are models that provide forecasting of the macroeconomic consequences of the tightening of sanctions measures. Conclusions about possible options for further development of the Russian economy in the aspect of countering the growing sanctions pressure are presented.