The Impact of External Risks on Ensuring the Financial and Economic Security of the Russian Federation

Abstract

Introduction. The article discusses the impact of financial risks on the financial and economic security of the state. In modern economies, the financial sector dominates the economy. Moreover, the development of financial markets has been seen in the past two decades as an independent driver of economic growth. At the same time, “negative processes that occur in a small number of financial market players in one country can cause crisis events throughout the world economy.” Among the main strategic risks and threats to national security in the economic sphere are the low stability and security of the national financial system.Materials and methods. The work uses the following general scientific and special methods of cognition: the method of system-structural analysis, synthesis, induction, deduction, comparative-legal and formal-legal method.Results. As the experience of the last decade shows, the financial and economic security of the Russian state is more influenced by the environmental factors (general economic crisis, geopolitical situation, inflation, payment crisis, climate and biological (epidemiological) risks, etc. The state governance of ensuring financial and economic security should be a permanent, integrated part of the forming process of state economic policy and legal regulation of russian economy. In order to achieve financial and economic security it is necessary to establish an effective financial and legal mechanism capable to resist emerging risks.Discussion and conclusion. The article revealed the impact of external financial risks that have a significant impact on the financial and economic security of the state. The need to establish an effective state mechanism to ensure the financial security of the Russian Federation is justified. The proposed measures are directed to improve the legal provision of financial and economic security of the Russian Federation.