Eleventh Global Studies Conference

Abstract

For economic growth and development of countries in the world economy, foreign economic activity plays an essential role. Russia’s trade policy is undergoing significant changes, due to a number of factors. This paper focuses on an analysis of the impact of sanction wars on Russia’s trade policy. In the conditions of globalization, the movement of goods, works, and services through the international division of labor, specialization and co-production leads to an increase in the efficiency of social production and increases the country’s competitiveness. However, Russia’s integration into the World Trade Organization presents new requirements to state regulation of the national economy as compliance is an important part of trade cooperation. The introduction of sanctions makes it possible to consider this issue in a different way. This paper systematizes the characteristics of foreign economic activity of the Russian Federation in the context of sanctions policy. A discussion of consequences of sanctions for the economy of the Russian Federation is also presented.