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<article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:ali="http://www.niso.org/schemas/ali/1.0/" article-type="research-article" dtd-version="1.2" xml:lang="en"><front><journal-meta><journal-id journal-id-type="publisher-id">RUDN Journal of Law</journal-id><journal-title-group><journal-title xml:lang="en">RUDN Journal of Law</journal-title><trans-title-group xml:lang="ru"><trans-title>Вестник Российского университета дружбы народов. Серия: Юридические науки</trans-title></trans-title-group></journal-title-group><issn publication-format="print">2313-2337</issn><issn publication-format="electronic">2408-9001</issn><publisher><publisher-name xml:lang="en">Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="publisher-id">31835</article-id><article-id pub-id-type="doi">10.22363/2313-2337-2022-26-3-655-677</article-id><article-categories><subj-group subj-group-type="toc-heading" xml:lang="en"><subject>ADMINISTRATIVE AND FINANCIAL LAW</subject></subj-group><subj-group subj-group-type="toc-heading" xml:lang="ru"><subject>АДМИНИСТРАТИВНОЕ И ФИНАНСОВОЕ ПРАВО</subject></subj-group><subj-group subj-group-type="article-type"><subject>Research Article</subject></subj-group></article-categories><title-group><article-title xml:lang="en">Unprecedented law: protecting the Russian financial system against the impact of sanctions</article-title><trans-title-group xml:lang="ru"><trans-title>Беспрецедентное право: защита российской финансовой системы от влияния санкций</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-8147-7633</contrib-id><name-alternatives><name xml:lang="en"><surname>Tsepova</surname><given-names>Ekaterina A.</given-names></name><name xml:lang="ru"><surname>Цепова</surname><given-names>Екатерина Андреевна</given-names></name></name-alternatives><bio xml:lang="en"><p>Candidate of Legal Sciences, Senior Lecturer of the Department of Civil Law and Procedural Law and Private International Law, Law Institute</p></bio><bio xml:lang="ru"><p>кандидат юридических наук, старший преподаватель, кафедра гражданского права и процесса и международного частного права, Юридический институт</p></bio><email>tsepova_ea@pfur.ru</email><xref ref-type="aff" rid="aff1"/></contrib></contrib-group><aff-alternatives id="aff1"><aff><institution xml:lang="en">Peoples’ Friendship University of Russia (RUDN University)</institution></aff><aff><institution xml:lang="ru">Российский университет дружбы народов</institution></aff></aff-alternatives><pub-date date-type="pub" iso-8601-date="2022-09-07" publication-format="electronic"><day>07</day><month>09</month><year>2022</year></pub-date><volume>26</volume><issue>3</issue><issue-title xml:lang="en">VOL 26, NO3 (2022)</issue-title><issue-title xml:lang="ru">ТОМ 26, №3 (2022)</issue-title><fpage>655</fpage><lpage>677</lpage><history><date date-type="received" iso-8601-date="2022-09-06"><day>06</day><month>09</month><year>2022</year></date></history><permissions><copyright-statement xml:lang="en">Copyright ©; 2022, Tsepova E.A.</copyright-statement><copyright-statement xml:lang="ru">Copyright ©; 2022, Цепова Е.А.</copyright-statement><copyright-year>2022</copyright-year><copyright-holder xml:lang="en">Tsepova E.A.</copyright-holder><copyright-holder xml:lang="ru">Цепова Е.А.</copyright-holder><ali:free_to_read xmlns:ali="http://www.niso.org/schemas/ali/1.0/"/><license><ali:license_ref xmlns:ali="http://www.niso.org/schemas/ali/1.0/">https://creativecommons.org/licenses/by-nc/4.0</ali:license_ref></license></permissions><self-uri xlink:href="https://journals.rudn.ru/law/article/view/31835">https://journals.rudn.ru/law/article/view/31835</self-uri><abstract xml:lang="en"><p style="text-align: justify;">The subject of this article is the special economic measures adopted by the Russian Federation to counter the sanctions imposed by a number of states (the United States, the United Kingdom, some EU countries) at the beginning of 2022. The article reviews the concept of “economic sanctions” and its main goals. The author analyzes the experience of sanctions against such countries as Iran, North Korea, and Venezuela, including the reasons for imposing restrictions and their economic consequences. Particular attention is paid to the economic measures imposed against Russia and their unprecedented nature. Besides, the main response measures of the Russian Federation are studied. It was proved that despite the negative consequences, the sanctions did not collapse the Russian economy, as predicted by Western leaders. The author makes conclusion concerning effectiveness and timeliness of the taken protective measures. Moreover, it was found that the sanctions led to extremely negative consequences for the financial system of the countries that imposed restrictions contrary to the ideas related to economic efficiency. This indicates the extremely destructive nature of economic sanctions as an instrument of foreign policy and economic influence.</p></abstract><trans-abstract xml:lang="ru"><p style="text-align: justify;">Предметом исследования настоящей статьи являются специальные экономические меры, принятые Российской Федерацией для противодействия санкциям, введенным рядом государств (США, Соединенное Королевство, некоторые страны ЕС и другие) в начале 2022 года. В статье рассматривается понятие «экономические санкции», а также основные цели их применения. Автором проведен анализ мирового опыта применения санкций в отношении таких стран, как Иран, КНДР, Венесуэла, исследованы причины введения ограничений и их экономические последствия. Особое внимание уделено исследованию экономических мер, введенных в отношении России западными странами, и их беспрецедентному характеру. Кроме того, исследованы основные ответные меры Российской Федерации. В ходе исследования доказано, что несмотря на негативные последствия, введение санкций не вызвало краха российской экономики, как предрекали западные лидеры. Автором сделаны выводы об эффективности и своевременности предпринятых защитных мер. Кроме того, установлено, что введение санкций привело к крайне негативным последствиям для финансовой системы стран, применивших ограничения вопреки соображениям экономической эффективности. Это указывает на крайне деструктивный характер экономических санкций в качестве инструмента внешнеполитического и экономического воздействия.</p></trans-abstract><kwd-group xml:lang="en"><kwd>economic sanctions</kwd><kwd>Russia</kwd><kwd>special economic measure</kwd><kwd>currency restrictions</kwd><kwd>financial and legal regulation</kwd><kwd>international law</kwd></kwd-group><kwd-group xml:lang="ru"><kwd>экономические санкции</kwd><kwd>Россия</kwd><kwd>специальные экономические меры</kwd><kwd>валютные ограничения</kwd><kwd>финансово-правовое регулирование</kwd><kwd>международное право</kwd></kwd-group><funding-group><funding-statement xml:lang="en">The article was prepared within the Grant of the President of the Russian Federation No. НШ-3270.2022.2 “Evolution or revolution of civil justice: digitalization through the prism of artificial intelligence”.</funding-statement><funding-statement xml:lang="ru">Работа выполнена при финансовой поддержке Гранта Президента РФ № НШ-3270.2022.2 «Эволюция или революция гражданского судопроизводства: цифровизация через призму искусственного интеллекта».</funding-statement></funding-group></article-meta></front><body></body><back><ref-list><ref id="B1"><label>1.</label><mixed-citation>Archick, K., Nelson, R.M., Rennack, D.E., &amp; Welt, C. 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