Russia in Global Affairs

The case of anti-Russian sanctions provides several insights into targeted sanctions and their spillover effects, and into the very theory of sanctions.

Companies with a higher share of the Russian market in their revenue structure are less willing to leave the Russian market. Cooperation with state-owned (or state-affiliated) companies from countries that have not joined the sanctions and show a higher level of political loyalty to Russia’s foreign policy has the best prospects.

The United States has released the “genie from the bottle” and now it is not known in which direction global sanctions may begin to develop. If the United States uses its dominance in the global financial system and the dollar monopoly in the mechanism of secondary sanctions, then China uses its positions in global value chains, writes Ekaterina Arapova.