ASSESSMENT OF THE IMPACT OF ECONOMIC SANCTIONS OF THE USA AND THE EU ON THE DEVELOPMENT OF THE ECONOMICS OF THE RUSSIA

This article is devoted to the assessment of the impact of US and EU economic sanctions on the development of the Russian economy. Taking into account the importance of international economic sanctions as a tool for regulating the foreign policy of countries, the issue of researching the consequences of their imposition on the economy of Russia as a country that encroached on the sovereignty of Ukraine and its integrity, due to which the USA and EU countries imposed sanctions. Therefore, on the basis of the data of the financial service of the USA, the European Commission and various information sources of international organizations and the EU, the impact and consequences for the Russian economy, which became noticeable immediately, were considered, and at the moment long-term forecasts are not considered, but only the assessment of the phenomena available right now. The assessment of these phenomena is important, as it clearly demonstrates how much it will cost the economy of the aggressor country to encroach on the integrity of Ukraine and violate international norms. The purpose of this article is to reveal the state and assess the impact of the economic sanctions imposed by the United States and the European Union on the development of sectors and industries of the Russian Federation, as well as the country's economy as a whole. The article used the methods of analysis and synthesis, comparison, grouping and systematization, elements of the institutional approach. The article determined that the imposition of international economic sanctions by the USA and the EU after the events of February 24, 2022 significantly undermined the economy of the Russian Federation and lowered its position in the international arena. The consequences of the introduction of economic sanctions by the USA and the EU countries on the Russian Federation, in particular regarding the negative impact on economic development and functioning of the economy as a whole, are considered. The article also notes that the sanctions had a negative impact on the ruble exchange rate, the country's investment climate, foreign trade (export and import of certain categories of goods), the private sector and the banking system. Also, in connection with the situation in Ukraine and sanctions, contradictions between the Russian Federation and the West regarding the positions and presence of the Russian Federation in international organizations are increasing. In the end, the author gives a conclusion about the state of the economy of the Russian Federation and their consequences after the beginning of the full-scale invasion of the Russian Federation into Ukraine in 2022, and the sanctions that were implemented against Russia.