The legal basis and legal “validity” of international economic sanctions against Russia

 
PIIS013207690008357-4-1
DOI10.31857/S013207690008357-4
Publication type Article
Status Published
Authors
Occupation: Professor of the Department of Public Administration, School of Governance and Policy, Moscow state Institute of International Relations, Ministry of Foreign Affairs of Russia
Affiliation: Moscow state Institute of International Relations, Ministry of Foreign Affairs of Russia
Address: Russian Federation, Moscow
Occupation: Head of the Department of Public Administration, School of Governance and Policy, Moscow state Institute of International Relations, Russian Ministry of Foreign Affairs
Affiliation: Moscow state Institute of International Relations, Russian Ministry of Foreign Affairs
Address: Russian Federation, Moscow
Journal nameGosudarstvo i pravo
EditionIssue 1
Pages111-122
Abstract

The article is devoted to the analysis of possible impact of extraterritorial application of new sanctions of the USA, Great Britain and the European Union on the economy of the Russian Federation. Faced with the low efficiency of the declared anti-Russian sanctions, the United States decided not only to involve its closest partners and dependent countries in its plans, but also to extend the binding nature of its unilateral legislation about sanctions to other sovereign States on a voluntary-compulsory basis. Such secondary sanctions are not only capable, but in practice significantly increase the destructive impact on the Russian economy. Especially if these anti-Russian sanctions are supplemented by extraterritorial sanctions of the EU and the UK.

The article touches upon topical issues of perception of discriminatory sanctions by the world community, presents the main areas of primary and secondary sanctions against the Russian Federation by Western States and satellites, analyzes the risks of further expansion of the sanctions space, which is illegitimate from the point of view of international law and the strategy of international stability. At the same time, the authors emphasize that it is impossible not to understand that the main risks to the economic development of our country are not external factors, but internal, largely systemic.

The authors make conclusion that in such circumstances an adequate response to the sanctions can be only one, namely to accelerate the pace of development of the real sector of the economy, dynamic and substantive mastery of the achievements of scientific and technological progress and digital technologies in management, to increase an export potential, a volume of lending, public and private investment, to optimize monetary policy, to stimulate a domestic consumption market. The authors propose a number of legal, economic and financial measures aimed not so much at circumventing international sanctions, but at reducing the risks of extraterritorial application of sanctions and improving the efficiency of public administration in the field of innovative renewal of production, optimization of the credit and financial system and activation of the banking sector.

Keywordsstate, public administration, law, International Law, world order, sanctions, unilateral sanctions, economic sanctions, sanctions regime, extraterritorial application of unilateral sanctions
Received12.11.2018
Publication date02.02.2020
Number of characters48417
Cite  
100 rub.
When subscribing to an article or issue, the user can download PDF, evaluate the publication or contact the author. Need to register.

Number of purchasers: 0, views: 986

Readers community rating: votes 0

1. The foreign Ministry named the number of Russian companies under us sanctions. Moscow, March 2018. URL: https://ria.ru/sanctions/20180305/1515747012.html?referrer_block=index_archive_58 (in Russ.)

2. Report of the special Rapporteur on the negative impact of unilateral coercive measures on the enjoyment of human rights. general assembly. 72nd session. NY., August 29, 2017. URL: https://digitallibrary.un.org/record/1305830/files/A_72_370-RU.pdf (in Russ.)

3. Keshner M.V. The legitimacy of sanctions against the Russian Federation: an international legal analysis // Journal of Russ. law. 2015. No. 7. P. 142 (in Russ.).

4. Krasner S.D. Structural causes and regime consequences: regimes as intervening variables // International organization. Vol. 36. 1982. No. 2. P. 185–205 (in Russ.).

5. Lavrov compared the anti-Russian sanctions to genocide. URL: http://360tv.ru news/power /Lavrov-compared-anti-Russian… (in Russ.)

6. Lukashuk I.I. Law of international responsibility // International public and private law. 2002. No. 2. P. 39 (in Russ.).

7. Medvedev D.A. Russia - 2024: strategy of social and economic development // Voprosy ekonomiki. 2018. No. 10. P. 9–12 (in Russ.).

8. President Donald Trump proclaims strategy... URL: http://inosmi.ru"politic/20171219/241042738.html… (in Russ.)

9. Putin V.V. Message of the President of the Russian Federation to the Federal Assembly of the Russian Federation on February 20, 2019 // “KonsultantPlyus” (in Russ.).

10. Framework policy in the field of climate and energy for the period from 2020 to 2030 [Electronic resource] - Access mode. URL: http://eur-lex.europa.eu " legal-content / EN / ALL / ... (accessed: 05.11.2018).

11. Dirk Bleich, Ralph Fendel and Jan-Christoph Rülke. (2013) Monetary policy and stock market volatility // Economic Bulletin. Vol. 33. No. 3. P. 1669 - 1680.

12. Exxon to leave Russian oil companies frozen by us sanctions", February 18, 2018 // Bloom "Bloomerg". URL: https://www.bloomberg.com/news/articles/2018-02-28/exxon-quitting-russian-oil-ventures-frozen-by-u-s-eu-sanctions

13. Fenives A. (ed.), Kisling K. (ed.), Perner S.), et al. (2016). Compulsory liability insurance from the European point of view. Berlin, Boston: De Gruyter. Retrieved April 16. 2018, p. URL: https://www.degruyter.com/view/product/474094

14. Noel Murray, Ajay K. Manraj, Lalita Ajay Manraj. (2017) financial services industry and society: the role of incentives/punishments, moral risk and conflict of interest in the 2008 financial crisis / / journal of Economics, Finance and administrative science, vol. Issue: 43. P. 168-190. URL: https://doi.org/10.1108/JEFAS-02-2017-0027

15. RAND Corporation (USA): to exhaust Russia and withdraw... URL: http://inosmi.ru "Politics" 20190531/245191453.html, 31.05.2019.

16. Son of Hong Lee and Yong Suk Lee. (2018). Political influence and trade uncertainty: evidence from threats of sanctions and imposition // Economic Bulletin. Vol. 38. No. 1. P. 367–372 (in Russ.).

Система Orphus

Loading...
Up