CITISE
ISSN 2409-7616
2024;1(39)
Economic sciences
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Osipov V.S.

THE POLITICAL ECONOMY OF SANCTIONS: SOURCES OF PROTECTIONISM

UDC 330.342.4                                                      

DOI: http://doi.org/10.15350/2409-7616.2024.1.32

Osipov V.S.1,2 (Moscow, Russian Federation) – vs.ossipov@gmail.com

1Lomonosov Moscow State University

2RANEPA

Abstract. The political background of economic sanctions and their historical nature allow us to use for our research the methodology of political economy, as the science of social economic relations regarding the production, distribution, exchange and consumption of goods at various stages of development of human society. Political economy studies social relations in a historical aspect, that is, it reveals the economic laws of the emergence, development and replacement of some forms of production by others. The author of the term A. de Montchretien spoke about the set of rules for conducting business activities in the public administration system. Since the object of economic sanctions is a sovereign state, and also in connection with the historical process of economic restrictions, it seems to us correct to call the study of economic sanctions the political economy of sanctions. The purpose of the study is economic laws that characterize a significant, constantly recurring connection and interdependence of the phenomena and processes of introducing, using, implementing economic sanctions and countering them. The object of the study is economic sanctions, and the subject is public relations regarding the introduction, use, implementation of economic sanctions and counteraction to them. Political economy as a science uses methods of analysis and synthesis in the study of social relations to identify the totality of characteristic features and properties of the object of study, which is fully consistent with our goal. Methods of abstraction, comparison, forecasting and the concrete historical method will also be used. The article provides a political economic analysis of sanctions as a tool of protectionism. As a result of the proposed methodology of political economy, the author proves that the purpose of economic sanctions is not at all to ensure international security, but rather to achieve economic goals when implementing a policy of protectionism by the countries initiating economic sanctions. An analysis of the implementation of sanctions from a historical perspective provides grounds for developing a recipe for response measures to the imposed economic sanctions. The article shows data on the impact of economic sanctions on political processes in the world – the global energy and food crises, political processes in individual countries. The article provides recommendations for structural restructuring of the national economy to overcome sanctions pressure and the country’s transition to technological sovereignty and competitive import substitution.

Keywords: sanctions, system of economic relations, import substitution, sanctions war, protectionism.

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For citation: Osipov V.S. The political economy of sanctions: sources of protectionism. CITISE, 2024, no. 1, pp. 373-384. DOI: http://doi.org/10.15350/2409-7616.2024.1.32

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