Issue ? 52. October 2015

Economic Sanctions As a Political Pressure Instrument

Ph.D., Associate Professor, School of Public Administration, Lomonosov Moscow State University, Moscow, Russian Federation.
E-mail: dmitrni@list.ru

The article discusses an important and pressing topic, as Russia desires to establish its position in a multipolar world in the modern conditions of globalization on the background of political and economic instability. The author provides a classification of economic sanctions taking into account the emergence of new forms and examines the effectiveness of economic sanctions and the factors influencing it based on the theoretical postulates of the new institutional economics. The author confirms the position that economic sanctions remain widely used, but inefficient instrument of foreign policy, due to high costs. It is necessary to evaluate the humanitarian damage of sanctions, as well as long-term economic effects and the third party negative externalities. It is necessary to organize the institutions for sanctions monitoring in Russia, modeled after the corresponding structures in other countries.

Keywords

Economic sanctions, secondary sanctions, targeted sanctions, financial sanctions, comprehensive sanctions, smart sanctions, subjects and objects of sanctions, the effectiveness of sanctions, costs, consequences of sanctions, humanitarian damage.