The Impact of Economic Sanctions of the EU and the USA on the Economic Security of the Russian Federation: Historical Context and Current Effects

In the context of escalating geopolitical tensions, economic sanctions are becoming one of the main instruments of external pressure on countries that do not follow the recommendations of Western countries. The imposition of restrictions by the European Union and the United States on the Russian Federation in 2014, and especially after February 2022, has had a significant impact on various sectors of the Russian economy. The sanctions have affected the financial system, foreign economic activity, and access to high technologies and international capital markets. International economic sanctions are a tool of coercive diplomacy, designed to create sufficient economic costs to encourage the recipient country to encourage them to reconsider its policy. The aim of the study is to systematically analyze the impact of restrictive measures imposed by the United States and the European Union on the economic security of the Russian Federation. This will be achieved through a comparative analysis of historical context of the sanctions and an evaluation of their current effects. The primary attention of this work was on the structural transformation of the national economy, reorientation of foreign trade flows, and the role of monetary factors in stimulating business activity. The main types of measures that have been implemented are considered, as well as vulnerable areas of the economy that have been identified. Additionally, adaptation mechanisms developed by the state to minimize negative consequences have been discussed. Special attention has been paid to Russia’s response measures, such as transitioning to settlements in national currencies, developing import substitution, and diversifying trading partners. It has been concluded that, despite significant pressure, the Russian economy has demonstrated a certain level of resilience thanks to active government intervention and restructuring of foreign economic relations. Nevertheless, the long-term consequences of the sanctions regime require constant monitoring and improvement of the country’s economic security strategy.

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