THE VIEW OF WESTERN RESEARCHERS ON THE ISSUE OF THE APPLICATION AND EFFECTIVENESS OF SANCTIONS

Abstract

The article analyzes the views of foreign economists on the problem of the introduction and effectiveness of sanctions, their expected effect and reality. The article compares theoretical approaches to the introduction of restrictions and their practical implementation. It is known that the classical economic theory of sanctions is largely based on a number of assumptions about trade and how these restrictions may affect it, but they often do not reflect reality. In addition, it does not take into account human behavior and reactions, including from the leaders of countries that face sanctions and which can seriously undermine their effectiveness. In numerous sources devoted to the effectiveness of sanctions, most authors focus on the impact of restrictions on trade, investment, and GDP growth in countries subject to sanctions. Western researchers say that targeted sanctions are ineffective, as evidenced by the actions against Russia in 2014 and a new round after February 2022. (the beginning of the SVR), where state protection helps national companies mitigate and minimize the harm caused by sanctions. The authors devoted their research to the study of these issues, the brief results of which are presented in this article. The authors devoted their research to the study of these issues, the brief results of which are presented in this article.