Sanctions and Trade Wars as Indicators of Transformation of the World Economy. Opportunities for Russia

DOI: 10.20542/0131-2227-2019-63-2-13-20

E. Telegina (,
Gubkin Russian State University of Oil and Gas (National Research University), 65, Leninsky Prosp., 119991, Moscow, Russian Federation;
G. Khalova (,
Gubkin Russian State University of Oil and Gas (National Research University,) 65, Leninsky Prosp., 119991, Moscow, Russian Federation

Abstract. The article highlights the principal trends in the development of the world economy in 2010–2017. Recently the economies of developing countries in South and Southeast Asia, a number of countries in Africa and Latin America are showing notable progress. At the same time, in most countries in Europe and in the United States GDP growth rates remain below the world average. The authors examine the causes of the new trade wars. Trade war is a form of struggle for economic hegemony, such wars have been waged for many years. The toughening of competition for resources, markets and the possession of production and technological capabilities launched a new round of protectionist sentiment between the largest participants in world trade. It is shown that due to attempts to maintain leadership in the world economy and politics, a number of countries turn out to be the main source of negative phenomena and risks. In the case of China, the United States uses mainly the regulatory and economic levers of influence, however, Russia is the main addressee of the US political influence, primarily in the form of sanctions. Authors have analyzed the sanctions policy of some states. The issues of assessing the direct and indirect economic effects of sanctions have not yet received full coverage in the scientific literature and remain extremely politicized. The article also dwells on the anti-sanction policy of the Russian Federation, its impact on the country’s economy. It is noted that Russia has a number of new opportunities for the development of the national economy. These opportunities are associated with the development of domestic industry, agriculture and services in the framework of import substitution policies.

Keywords: world economy, trade wars, sanctions, import substitution


1. World Economic Outlook Database 2018. Available at: (accessed 12.10.2018).

2. United Nations Conference on Trade and Development. Available at: (accessed 10.10.2018).

3. United States Census Bureau. Official Webpage. Available at: (accessed 05.10.2018).

4. Trump on trade warfare trail. TASS, 18.09.2018 (In Russ.) Available at: (accessed 18.10.2018).

5. Chinese economy slows down., 15.10.2018 (In Russ.) Available at: (accessed 20.10.2018).

6. Speaker of the House of Representatives of the US Congress spoke out against steel and aluminum duties. TASS, 05.03.2018 (In Russ.) Available at: (accessed 11.07.2018).

7. World Population Report. United Nations Population Fund, 2010. (In Russ.) Available at: (accessed 10.10.2018).

8. World Population Report. United Nations Population Fund, 2017 (In Russ.) Available at: (accessed 10.10.2018).

9. Countering America’s Adversaries through Sanctions Act (CAATSA). U. S. Department of Treasury. Available at: (accessed 11.09.2018).

10. Chilkoti A. U.S. Sanctions Give Russian Economy an Unintended Boost. Available at: (accessed 09.10.2018).

11. Fischer S. A Permanent State of Sanctions? SWP Comments 11. Berlin, Stiftung Wissenschaft und Politik, April 2017. Available at: (accessed 01.05.2018).

12. Russia is able to withstand any new US sanctions. RIA, 06.08.2018 (In Russ.) Available at: (accessed 25.08.2018).

13. St. Petersburg International Economic Forum. 23.05.2014 (In Russ.) Available at: (accessed 20.10.2018).

14. Orders of the Ministry of Industry and Trade of Russia dated March 31, 2015, no. 645–663 (In Russ.) Available at: (accessed 14.10.2018).

15. About the Development Fund of the Russian industry. (In Russ.) Available at: (accessed 05.08.2018).

16. Russian statistical yearbook 2017. Stat. Book. Moscow, Rosstat, 2017. 686 p. (In Russ.)

17. Prospects and strategic objectives for the AIC: Putin in Krasnodar. (In Russ.) Available at: (accessed 12.08.2018).

18. Forecast of socio-economic development of the Russian Federation for the period up to 2024. 01.10.2018 (In Russ.) Available at: (accessed 10.11.2018).

19. PJSC “LUKOIL”. Annual Report, 2017 (In Russ.) Available at:,74 (accessed 11.10.2018).

20. Molodtsov K. Shel’f trebuet zameshcheniya: Rossiiskie neftegazovye kompanii smogut burit’ v lyubom climate [The shelf requires replacement: Russian oil and gas companies will be able to drill in any climate]. Rossiiskaya gazeta – Federal’nyi vypusk, 05.09.2017, 7365 (199).

21. List of products for import substitution. PJSC Gazprom. (In Russ.) Available at: (accessed 15.09.2018).

22. Khalova G.O., Illeritsky N.I. Obzor sovremennogo sostoyaniya neftyanoi i neftekhimicheskoi otraslei promyshlennosti Irana [Overview of current state of oil and petrochemical industries of Iran]. Innovatsii i investitsii, 2017, no. 9, pp. 56-63.

23. Remarks of Secretary Lew on the Evolution of Sanctions and Lessons for the Future at the Carnegie Endowment for International Peace. U. S. Department of the Treasury Press Center, 30.03.2016. Available at: (accessed 15.07.2018).

24. Norman L. European Governments Explore Financial Channels for Iran. Wall Street Journal, 16.07.2018. Available at: (accessed 13.10.2018).

25. Germany Upholds Export, Investment Guarantees for Iran Business Despite U.S. Pressure. Reuters, 06.08.2018. Available at: (accessed 10.08.2018).

26. Russia and India have found a solution to the problem of payments for arms contracts. Kommersant, 05.10.2018 (In Russ.)] Available at: (05.10.2018).

27. Gazprom has signed cooperation development documents in Iran. PJSC Gazprom, 13.12.2017. (In Russ.) Available at: (accessed 07.10.2018).

Registered in System SCIENCE INDEX

For citation:
Telegina E., Khalova G. Sanctions and Trade Wars as Indicators of Transformation of the World Economy. Opportunities for Russia . World Eonomy and International Relations, 2019, vol. 63, no. 2, pp. 13-20.

Comments (0)

No comments

Add comment






Dear authors! Please note that in the VAK List of peer-reviewed scientific journals, in which the main scientific results of dissertations for the degree of candidate and doctor of sciences should be published for the “MEMO Journal” the following specialties are recorded:
economic sciences:
5.2.5. World Economy.
5.2.1. Economic Theory
5.2.3. Regional and Branch Economics
political sciences:
5.5.4. International Relations
5.5.1. History and Theory of Politics
5.5.2. Political Institutions, Processes, Technologies


Current Issue
2024, vol. 68, No. 5
Topical Themes of the Issue:
  • Are There Any Ways to Break Through the Korean Nuclear Impasse?
  • Contemporary U.S. Taiwan Policy: Balancing on the Edge
  • The Gulf Monarchies’ Vision of the Global Order Transformations and the Russian Place in It
  • At Post-Soviet Space
Submit an Article
The Editorial Board invites authors to write analytical articles on the following topics:
  • changes in the processes of globalization in modern conditions
  • formation of the new world order
  • shifts in civilization at the stage of transition to a digital society

The editors are also interested in publishing synthesis articles / scientific reviews revealing the main trends in the development of certain regions of the world - Latin America, Africa, South Asia, etc.