Foreign experience in overcoming sanctions and lessons for the economy of the Russian Federation
Abstract. In the 21st century, the economy is becoming the main battleground between countries. When military actions are supplemented by sanctions, the force of such a strike is truly catastrophic. The Russian Federation has been subjected to the pressure of unprecedented sanctions. Everyone was affected by this powerful blow: from the country`s leadership and the richest elites to ordinary citizens. In this regard, the purpose of the article is to identify important lessons for the Russian Federation to reduce the negative impact of sanctions. To do this, the authors examined two examples of countries under sanctions. If Iran has only been in the conditions of sanctions for a long time, then for Syria the situation was complicated by the civil war. The authors came to the conclusion that it is important for the Russian Federation to study the Iranian and Syrian experience in depth. It is noted that for the Russian Federation, a significant advantage is the provision of natural resources which is considered as a satisfactory food security. It is also critically important for further sustainable development to form a "support group" out of the countries that have not joined the sanctions and are ready to develop trade, economic and cooperative relationships. It is important to prevent the decline in the external competitiveness of products and services which is a characteristic decline of the autarkic economy, and to continue the implementation of the import program. Another critical task is to prevent the outflow of qualified personnel by creating favorable conditions for life and work.
Keywords: sanctions, foreign trade, economic competitiveness, impact of sanctions, overcoming sanctions, Russian Federation, Iran, Syria
Highlights:
♦ as world experience shows, sanctions are introduced quickly, but are slowly being lifted;
♦ the important factor of stable domestic economy for Russia is high availability of basic resources;
♦ it is critically important to prevent military actions on the territory of the Russian Federation, to maintain and increase support of explicit and implicit allies;
♦ it is necessary to provide all possible support for favorable conditions for life and work of young people in Russia;
♦ in a closed economy, there is a potential danger of reducing competitiveness of enterprises.
Galina A. Khmeleva, Ali Kherbek - Samara State University of Economics, Samara, Russia