A Review of Economic Sanctions: A Russian Perspective
Russia's attitude towards the conomic sanctions is driwen by cautiosness and restraint though it is accepted that they are an important part of the international system
The paper is focused on assessing the risk factors for Russian manufacturing firms posed by sanctions imposed on Russia by the EU, US, and other countries in 2014. While there is an extensive literature assessing the successes and failures of international sanctions on the economies of both those imposing and targeted by sanctions on a macroeconomic level, we are more interested in trying to understand the corporate response – i.e. which firms evaluate the introduction and increasing scale of economic sanctions as a threat to their corporate strategy, and their possible reactions aimed at adjusting to a changing environment due to the geopolitical shock. Our research, based on a recent survey of manufacturing companies, provides evidence that over the last decade Russian manufacturing firms have become much more integrated into the global economy than is commonly assumed, through foreign direct investment, foreign trade (including imports of both technological equipment and raw materials and components), international partnerships, and by extensively supplying foreign companies that operate in Russia. Considering the self-selection effect of the top-performing firms in terms of foreign trade, we can state that sanctions could prove most harmful not only for the targeted firms, but for the entire population of better-performing and globalized firms involved in foreign trade with the EU and Ukraine. Thus, the impact of the sanctions on the prospects of the Russian manufacturing sector may be very strong over the medium-to-long term.
In the article the analysis of the influence of economic sanctions on the processes of Russia’s political and economic self-identification is carried out. Also the evaluation of reciprocal measures of Russia is carried out. The conducted research has shown that for stabilization of Russian economy it is necessary not only to re-direct the foreign trade relations, but also to develop national industries carrying out effective policy of import substitution.
Economic sanctions are an important instrument of the foreign poilicy but they have some important limitations while applied.
This article discusses issues related to the current functioning of the defense industry in conditions of sanctions. For ensuring of the defense industry’s sustainable development need to restructure the internal organization of companies. The objects of analysis selected the United Shipbuilding Corporation. On the basis of the analysis mechanisms have been proposed to change the principles of the internal organization of the activities of the USC.
The article deals with the problems of the current state and prospects of development in Russia in terms of economic sanctions. Highlighted the possible negative consequences of sanctions for this type of activity. The variants of overcoming the crisis and further development in the field of development of the domestic real estate market.
A complex analysis of the social and economic consequences of China, Ukraine, and Russia’s accession to the WTO was used to identify recommendations for the most successful adaptation of Russia to WTO standards. Russia tries to adapt to the WTO standards. The study focuses on the Chinese experience. China’s membership in the WTO is extremely useful for Russia from due to China’s positive influence on the development of its economy , as there has been expansion in the industrial and production sectors of its economy and promotion of goods in world markets, as well as an opportunity to use the WTO’s legal instruments for national domestic market protection.
China’s positive experience as a WTO member somehow contrasts with the described experience of Ukraine. An assessment of Ukraine’s versatile policy and its association with the EU allowed concluded that it is impossible for Ukraine to follow two ways at once: that of Eurasian integration and that of European integration.
Recently, the aggravated trade, economic and political confrontations between Russia and its American and European partners spurred radical changes in Russia’s economic strategy. Areas of such transformations can be determined by understanding both the positive and negative experiences of Russia’s old trade partners, namely China and Ukraine as they joined the world economic environment.
The article studies the possible measures to increase the sustainability of Russia’ economic development on the background of current hostilities with the West. I argue that the development of small enterprises can assist to overcome the worst consequences of sanctions—the fall in male life expectancy as the analysis demonstrated a strong relationship between the share of small and medium businesses (SMEs) in the national economy and the life expectance of males. Several suggestions on how to increase the share of SMEs in the Russian economy are proposed.