THE SANCTIONS STRIKE ON THE RUSSIAN ECONOMY AS A GREAT CHALLENGE. ANALYSIS OF SOME ASPECTS

Abstract

The adoption of sanctions against the economy of Russia and its regions has become a great challenge to its functioning, affecting the fundamental foundations of its existence. The aim of the study is to review scientific publications that analyze the sanctions that hit the socio-economic system of Russia, to identify trends in the development of this system under the new conditions. The review, carried out with the help of a set of information collection and processing methods, draws conclusions reflecting the nature of the sanctions impact on the Russian economy. The sanctions strike did not lead to the development of critical and catastrophic scenarios, including, thanks to the "big country trap", further forecasts are characterized by cautious optimism. Sanctions are ambivalent - in many cases, they are detrimental, including to the countries that impose them. A new element of economic development is becoming "forced import substitution," organized by the authorities to replace critical imports. In order to be resistant to external shocks in the new conditions, it is necessary to form an anti-crisis package to support the population and business in the amount of 3-4% of GDP.