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

Publication type Article
Status Published
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

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
Publication date02.02.2020
Number of characters48417
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