Russian Economy Under U.S. Economic Sanctions In The Context Of The Ukrainian Crisis

For many years,the US government has been using sanctions as a tool of international pressure in carrying out its foreign policy.This paper is devoted to the analysis of the anti-Russian sanctions’ effect from US on the economic component of Russia,as well as protective measures taken by the Russian side amid the crisis on the Ukrainian territory.The impact of sanctions against Russia impacted more than the international standing of the country,but relations between all states and the international situation as a whole.In connection with the above,in this dissertation,the author answers the following questions: which areas are more affected by sanctions and to what extent;what retaliatory measures are used by the Russian side to protect its national economy;and how Russia strengthens relations with its most important partner,namely the People’s Republic of China.The present study was conducted with consideration given to the theory of targeted sanctions as a key concept in American policies.Along with this,the main industries comprising the Russian economy have been identified,which to a greater extent have come under sanctions pressure because of their great importance for Russian economic prosperity.These include: fuel and energy,financial(banking)and technology sectors.In some chapters,EU sanctions are touched upon,as they directly follow from decisions taken by the United States government and greatly affect the economic situation in Russia.Analysis of the protection measures taken by the Russian side,namely counter-sanctions,import substitution and reorientation of the economy to the East are an integral part of this paper.Moreover,close cooperation with China,for example,improving mutual trade,attracting investments,participating in joint projects or membership in organizations such as the SCO and BRICS,gives Russia a chance to minimize economic losses from the sanctions imposed.In addition,the author illustrates the possibilities for the advancement of collaboration between Russia and China in a situation of strong pressure from the United States.Owing to the fact that Russia faces the highest number of sanctions in comparison with any other country,a brief comparative description of the influence and methods of combating sanctions by Russia and Iran is made in this dissertation.Since at the moment American sanctions against Russia continue to be at the stage of their active introduction,it is difficult to illustrate the final result of their impact on Russia as a whole,but intermediate effects can be traced.In addition,it can already be said that only with the active development of domestic Russian legislation,and consequently,with the successful implementation of measures for the national advancement of the country and the reorientation of its economic sectors to the East,Russia will be able to minimize and survive the shocks from sanctions pressure.