Position of Russia in the context of economic sanctions

Abstract

The article provides an analysis of the global consequences that followed after the introduction of anti-Russian sanctions by a number of countries. It can be noted that over the past decades economic sanctions against other countries have not led to the desired results: countries faced with sanctions tend to reject the requirements of the state imposing these restrictions. This article is based on official macroeconomic data published by international organizations, which enabled collecting up-to-date information indispensable to fully comprehend current global situation. The purpose of this paper is to define whether economic sanctions retain their efficiency in putting pressure on a country in order to maintain the established world order.