Transformation of the currency regulation regime and foreign economic relations of Russia in the context of expanding anti-Russian sanctions

The article discusses the features of currency regulation and foreign economic relations of the Russian Federation (hereinafter referred to as RF, Russia) in the context of the introduction and growth of anti-Russian sanctions by the United States of America, European Union countries and other unfriendly countries, issues related to ensuring the sustainability of the Russian economy and its ability to withstand negative internal and external influences, issues of financial security, which is an important component of the country’s economic security, issues of the current state of the state’s banking system and the Russian economy as a whole. The article also discusses the possible expansion of international economic relations between Russia, China, North Korea and other countries. The purpose of the article is to identify directions for the transformation of the currency regulation regime and foreign economic relations of the RF in the context of the expansion of anti-Russian sanctions. The subject of the study is the currency and foreign economic relations of the RF with friendly and unfriendly countries in the current conditions of growing anti-Russian sanctions and the conduct of a special military operation in Ukraine. In conclusion, the article highlights key changes associated with changes in Russia’s foreign exchange and foreign economic activeities, promising opportunities for further expansion of international economic relations with China, the Democratic People’s Republic of Korea and other friendly countries.

1. Vorotyntseva T.M. Algorithm for forming a set of indicators of international trade customs regulation effectiveness in the EAEU member states. Upravlenie. 2024;2(12):23–30. (In Russian). https://doi.org/10.26425/2309-3633-2024-12-2-23-30

2. Vorotyntseva T.M. Сoncept for improving customs and tariff mechanisms for regulating international trade. Management. 2024;1(12):16–25. (In Russian). https://doi.org/10.26425/2309-3633-2024-12-1-16-25

3. Grigoriev I.V. Financial and legal problems and prospects for the development of currency regulation and control in Russia under sanctions. Obrazovanie i pravo. 2022;12:133–135. (In Russian). https://doi.org/10.24412/2076-1503-2022-12-133-135

4. Anikin O.B., Mishchenko D.D. Modern functioning aspects of the Society for Worldwide Interbank Financial Telecommunications. Vestnik universiteta. 2023;7:188–195. (In Russian). https://doi.org/10.26425/1816-4277-2023-7-188-195

5. Dyomina Ya.V. DPRK’s foreign trade: the impact of sanctions. Regionalistica. 2021;8(1):5–28. (In Russian). http://dx.doi.org/10.14530/reg.2021.1.5

6. Karsanova E.S. Strategies of China and India in the Indo-Pacific region. Upravlenie. 2024;2(12):74–81. (In Russian). https://doi.org/10.26425/2309-3633-2024-12-2-74-81

7. Diker D.S., Rozengauzov L.R., Isaichkin I.R. Trade cooperation between Russia and China. Economy and Business: Theory and Practice. 2023;4–1(98):96–99. (In Russian). https://doi.org/10.24412/2411-0450-2023-4-1-96-99

8. Sharipov F.F., Dyakonova M.A., Xu M. Prospects for innovations in the banking sector in terms of organizing settlements in Chinese yuan. E-Management. 2022;3(5):145–152. (In Russian). https://doi.org/10.26425/2658-3445-2022-5-3-145-152