Russia and its regions in the new economic reality

Abstract

In the period of tightening sanctions of the collective West, the issue of developing adaptive solutions against external and internal threats to the national economy for each region of Russia comes to the fore as a strategic regulation of the development of the changing situation, including economic independence, stability and sustainability of the national economy, the ability to self-development. The purpose of the work is to reveal the economic consequences of anti-Russian sanctions. The study uses methods of analyzing the problem of economic security and collecting facts related to the anti-Russian sanctions. The novelty of the study lies in identifying the reasons for imposing sanctions on Russia by the collective West led by the United States and identifying external and internal risks in the socio-economic situation in Russian regions. The authors conclude that Russia faced a significant collective external aggression, unparalleled in modern world and Russian history. In this regard, the development of the Russian economy should change the format of the relationship with the outside world, particularly with unfriendly countries on the internal economic policy. It is important not only to reduce the risks associated with the multiple sanctions’ packages adopted by the U.S. and Western countries, but also to restructure the economy by aiming at the growth of investments into import substitution.