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Meeting the Challenge of Economic Sanctions: Russian Legislative and Institutional Perspective

Author

Listed:
  • Ivan N. Timofeev

    (MGIMO University, Moscow 119454, Russian Federation)

Abstract

The article deals with the Russian experience of countering foreign economic sanctions. It makes a special stress on the legislative and institutional perspectives of the Russian practice. The key point implies that, despite significant innovations, Russian institutional design of counter-sanctions policy still suffers from a number of shortcomings. A tentative list includes a lack of coherence of key concepts, unsophisticated distribution of power among different governmental agencies, legal gaps in terms of civil and criminal liability for violation of the Russian counter-sanctions legislation etc. The article provides insights into key Russian legal documents as well as the practice of their implementation. Besides that, the research aims at filling the gap in sanctions literature, related to the disbalance between studies of initiators’ policies and targets of sanctions: research on the policy of initiator states prevail over that on the target states. Inquiry into the Russian practice may contribute to the studies of target states’ policies under sanctions.

Suggested Citation

  • Ivan N. Timofeev, 2021. "Meeting the Challenge of Economic Sanctions: Russian Legislative and Institutional Perspective," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 4, pages 8-23, August.
    • Handle: RePEc:fru:finjrn:210401:p:8-23
    DOI: 10.31107/2075-1990-2021-4-8-23
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    References listed on IDEAS

    as
    1. Drezner,Daniel W., 1999. "The Sanctions Paradox," Cambridge Books, Cambridge University Press, number 9780521644150, October.
    2. Navin A. Bapat & Tobias Heinrich & Yoshiharu Kobayashi & T. Clifton Morgan, 2013. "Determinants of Sanctions Effectiveness: Sensitivity Analysis Using New Data," International Interactions, Taylor & Francis Journals, vol. 39(1), pages 79-98, January.
    3. E. Gurvich & I. Prilepskiy., 2016. "The impact of financial sanctions on the Russian economy," VOPROSY ECONOMIKI, N.P. Redaktsiya zhurnala "Voprosy Economiki", vol. 1.
    4. Drezner,Daniel W., 1999. "The Sanctions Paradox," Cambridge Books, Cambridge University Press, number 9780521643320, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    economic sanctions; special economic measures; Russian Ministry of Finance; Bank of Russia; institutions;
    All these keywords.

    JEL classification:

    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions

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