Impact of Economic Sanctions on the Volume and Structure of Russia's Foreign Trade Turnover

Abstract

The goal is to present a comparative analysis of statistical data on the indicators of the foreign trade turnover of the Russian Federation under the conditions of economic sanctions and anti-sanctions, as well as the results of expert assessments on the current import substitution policy. Design/methodology/approach – methods for comparing and grouping indicators that allow comprehensively and dynamically considering the state of Russia's foreign trade turnover, taking into account changes in the country and commodity aspects in the volume of exports and imports in the context of economic sanctions and a counter food embargo. Conclusions – the paper proves that the decline rate in foreign trade turnover in relation to the pre-sanctioned 2013 has slowed down, which indicates the relative adaptation of the Russian economy and the effectiveness of the anti-crisis measures taken. The main recommendations have been formulated that require the concentration of protective adaptation measures on the instruments of selective protectionism with free trade measures. Originality/significance – the paper provides a comprehensive analysis of the impact of economic sanctions on the volume and structure of Russia's foreign trade in the context of growing pressure on foreign trade in a gradual increase in sanctions, and this trend should be timely detected.