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Economic security of Russia and the Eurasian Economic Union in terms of sanctions


Drobot E.V., Gudovich G.K., Makarov I.N., Bakhmutskaya V.S.
(about the authors)

Drobot Elena Valerevna – (The Russian Presidential Academy of National Economy and Public Administration (The Presidential Academy, RANEPA) (Vyborg Branch))

Gudovich Galina Konstantinovna – (Financial University under the Government of the Russian Federation – Lipetsk branch)

Makarov Ivan Nikolaevich – (Financial University under the Government of the Russian Federation – Lipetsk branch)

Bakhmutskaya Valeriya Sergeevna – (Financial University under the Government of the Russian Federation – Lipetsk branch)

Published in:
Journal of International Economic Affairs
– Volume 9, Number 3 (July-September 2019)

JEL classification: F10, F52, F63

Keywords: energy, export, foreign trade, import, natural gas, sanctions, security


Citation:
Drobot E.V., Gudovich G.K., Makarov I.N., Bakhmutskaya V.S. (2019). Economic security of Russia and the Eurasian Economic Union in terms of sanctions. Journal of International Economic Affairs, 9(3), 1671-1682. doi: 10.18334/eo.9.3.41004


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Abstract:

In the context of economic sanctions, first introduced in 2014 and continuing to the present time, issues related to economic security acquire frightening relevance. However, if in relation to the products of mechanical engineering, which is prohibited to import, import substitution programs were very effective, then in relation to medical products, the sanctions were very painful. However, they can be even more painful in case of continuation of trade wars in the sphere of hydrocarbon supplies, due to their high importance for filling the budget. The article deals with the central problems of economic development of Russia and the Eurasian Economic Union (EAEU), which were followed by the imposition of sanctions against the Russian Federation. The authors propose ways out of the crisis and preservation of the EAEU market integrity.








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