Abstract
The article discusses the introduction of economic sanctions and their impact on the level of economic security. Based on this, the purpose of the article is to assess the effectiveness of the use of financial sanctions on the economy of individual countries, to determine the criteria for the effectiveness of their application, as well as to search for the most adequate tools to counteract them and minimize their negative impact on the national economy. The results showed that the main factors influencing the effectiveness of sanctions are: commercial relations between the initiator countries and the target countries, measured by the flow of bilateral trade in goods between them; the relative economic size of the countries, measured by the ratio of the GNP of the initiator country to the GNP of the target country; the level of economic development of the target country; the type of sanctions used; the cost to the country- the initiator.
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