Author page: Natalia Smorodinskaya

Russia under Collective Western Sanctions: Crisis Trends

DOI: 10.33917/es-6.192.2023.40-45

The reasons for Russia’s unique success in relieving the sanctions shocks of 2022 and signs of its plunge into prolonged sanctions stress from 2023 are described. It is shown that Russia has exhausted the advantages of a “big country” in increasing macro-financial stability, and its model of recovery growth creates imbalances that aggravate sanctions deformations.


1. Hufbauer G.C., Schott J.J., Elliott K.A. Economic sanctions reconsidered. Washington, DC, Peterson Institute for International Economics, 2009.

2. Morgan T.C., Syropoulos C., Yotov Y.V. Economic sanctions: Evolution, consequences, and challenges. Journal of Economic Perspectives, 2023. Vol. 37. No. 1. P. 3–29.

3. Mulder N. The economic weapon: The rise of sanctions as a tool of modern war. New Haven, Yale University Press, 2022.

4. Felbermayr G., Morgan T.C., Syropoulos C., Yotov Y.V. Understanding economic sanctions: Interdisciplinary perspectives on theory and evidence. European Economic Review, 2021, vol. 135, no 1, p. 103720.

5. Chowdhry S., Hinz J., Kamin K., Wanner J. Brothers in arms: The value of coalitions in sanctions regimes. Kiel Working Papers, 2022, no 2234.

6. Russia Sanctions Dashboard. Castellum.AI, available at:

7. Smorodinskaya N.V., Katukov D.D. Rossiya v usloviyakh sanktsii: predely adaptatsii [Russia under Sanctions: Limits of Adaptation]. Vestnik Instituta ekonomiki RAN, 2022, no 6, pp. 52–67.

8. Sal’nikov V.A., Galimov D.I., Gnidchenko A.A. O promezhutochnykh itogakh razvitiya promyshlennosti s nachala 2022 g.: proizvodstvo i investitsii [On the Interim Results of Industrial Development since the Beginning of 2022: Production and Investment]. Trinadtsat’ tezisov ob ekonomike, 2023, no 3.

9. Bank Rossii. O chem govoryat trendy [Bank of Russia. What are the trends saying?]. Byulleten’ Departamenta issledovanii i prognozirovaniya, 2023, no 5.

10. Russia Hikes Interest Rates Despite World’s Biggest Currency Surge. Bloomberg, available at:


11. Gutmann J., Neuenkirch M., Neumeier F. The economic effects of international sanctions: An event study. Journal of Comparative Economics, 2023, vol. 180, pp. 1–18.

Russia’s International Specialization: Opening and Missed Chances


We describe the “window of opport unity” objectively opened up after the coronacrisis for Russia’s entering advanced service niches in global industrial chains and improving its international specialization. We show that after falling under Western sanctions in Spring 2022, Russia has lost this opportunity and suffers a technological rollback due to isolation from global markets.


1. Export by Product Group. 2020. WITS, available at:

2. Smorodinskaya N.V., Katukov D.D., Malygin V.E. Global’nye stoimostnye tsepochki v epokhu neopredelennosti: preimushchestva, uyazvimosti, sposoby ukrepleniya rezil’entnosti [Global Value Chains in the Age of Uncertainty: Advantages, Vulnerabilities, Ways for Enhancing Resilience]. Baltiiskii region, 2021, no 3, pp. 78–107.

3. Ivanov D. Viable supply chain model: Integrating agility, resilience and sustainability perspectives-lessons from and thinking beyond the COVID-19 pandemic. Annals of operations research, 2020. P. 1–21.

4. World Bank. World development report 2020: Trading for development in the age of global value chains. Washington, DC, World Bank, 2020.

5. World Bank. Russia integrates: Deepening the country’s integration in the global economy. Washington, DC, World Bank, 2020.

6. Abdrakhmanova G.I., et al. Sektor IKT v 2021 godu: na pike rosta v preddverii novykh uslovii [ICT Sector in 2021: the Pinnacle of Growth on the Threshold of New Conditions]. Tsifrovaya ekonomika, 2022, no 56(240), available at:

7. Smorodinskaya N.V., Katukov D.D. Shansy vykhoda Rossii na rynki Industrii 4.0 cherez uluchshenie svoikh pozitsii v raspredelennom proizvodstve [Russia’s Opportunities for Entering Industry 4.0 Markets by Improving Its Position in Distributed Production]. Zhurnal Novoi ekonomicheskoi assotsiatsii, 2022, no 1(53), pp. 223–231.

8. Panel’ monitoringa sanktsii protiv Rossii [Russia Sanctions Dashboard]. Castellum.AI, available at:

9. Bank Rossii. Makroekonomika i rynki [Bank of Russia. Macroeconomics and Markets]. O chem govoryat trendy, 2022, no 2, available at:

10. Simola H. Trade sanctions and Russian production. BOFIT. Policy Briefs, 2022, no 4.

11. Chorzempa M. Export controls against Russia are working — with the help of China. The Peterson Institute for International Economics, 2022, available at:

12. Bank Rossii. Osnovnye napravleniya edinoi gosudarstvennoi denezhno-kreditnoi politiki na 2023 god i period 2024 i 2025 godov [Bank of Russia. The Main Directions of the State Monetary Policy for 2023 and the Period of 2024 and 2025]. Moscow, Bank Rossii, 2022.

13. Chebakova D., Balashova A. Uchastniki rynka otsenili novuyu volnu uezzhayushchikh iz Rossii aitishnikov [Market Participants have Assessed a New Wave of IT Specialists Leaving Russia]. RBK, 2022, 28 sentyabrya, available at:

Resilience as a Strategic Imperative in the Age of Uncertainty


The article examines resilience as a new approach to supporting economic growth under the global uncertainty and sudden shocks. We describe resilience as a method for dynamic stabilization of complex systems, as a new imperative for growth policy, and as a new standard of risk management.


1. Smorodinskaya N.V., Katukov D.D. Raspredelennoe proizvodstvo v usloviyakh shoka pandemii: uyazvimost’, rezil’entnost’ i novyi etap globalizatsii [Distributed Production Under the Pandemic Shock: Vulnerability, Resilience and the New Stage of Globalization]. Voprosy ekonomiki, 2021. №12 (V pechati.)

2. Walker J., Cooper M. Genealogies of resilience. Security Dialogue, 2011, Vol. 42, no 2, pp. 143–160.

3. OECD, SIDA. Resilience systems analysis: Learning and recommendations report. Paris: OECD Publishing, 2017.

4. Smorodinskaya N.V. Uslozhnenie organizatsii  ekonomicheskikh sistem v usloviyakh nelineinogo razvitiya [Growing Organizational Complexity of Economic Systems Under Non-Linear Development]. Vestnik Instituta ekonomiki RAN, 2017, no 5, pp. 104–115.

5. OECD. A systemic resilience approach to dealing with COVID-19 and future shocks. OECD Policy Responses to Coronavirus (COVID-19). 2020.

6. Sreedevi R., Saranga H. Uncertainty and supply chain risk: The moderating role of supply chain flexibility in risk mitigation. International Journal of Production Economics, 2017, Vol. 193, pp. 332–342.

7. Linkov I., Trump B. D. The science and practice of resilience. Cham, Springer, 2019.

8. Ivanov D., Dolgui A., Sokolov B. Ripple effect in the supply chain: Definitions, frameworks and future research perspectives. Handbook of ripple effects in the supply chain. Cham, Springer, 2019, pp. 1–33.

9. PIIE. Rebuilding the global economy. PIIE briefing 21-1. Peterson Institute for International Economics, 2021, Washington, DC.

10. Smorodinskaya N. V., Katukov D.D. Rezil’entnost’ ekonomicheskikh sistem v epokhu globalizatsii i vnezapnykh shokov [Resilience of Economic Systems in the Age of Globalization and Sudden Shocks]. Vestnik Instituta ekonomiki RAN, 2021, no 5, pp. 93–115

11. Smorodinskaya N. V., Malygin V. E., Katukov D.D. Rol’ endogennykh mekhanizmov i faktora slozhnosti v dostizhenii sbalansirovannogo ekonomicheskogo rosta [The Role of Endogenous Mechanisms and the Factor of Complexity in Achieving Sustainable Economic Growth]. Vestnik Instituta ekonomiki RAN, 2020, no 1, pp. 113–129.

12. Root H.L. Network origins of the global economy: East vs. West in a complex systems perspective. Cambridge, Cambridge University Press, 2020.

Distributed Production Model and New Approaches in National Economic Strategies

DOI: 10.33917/es-5.163.2019.40-46

The article is dedicated to distributing the production process along the elements of global value chains, to the countries’ participation in such chains and the resulting principles of the national growth policy. Special attention is paid to specifics of the Russian situation

Network Format in Managing Economic Development: European Macro-Regionalism

#8. Ideas Change the World
Network Format in Managing Economic Development: European Macro-Regionalism

The article dwells on a multi-level approach to managing development on the example of Europe of macro-regions — a set of macro-regional innovation ecosystems, characterised by project-network structure and collaborative mechanisms of cooperation. The authors describe specificity of EU macro-regional strategies as the tools for horizontal coordination of national economic policies and smearing of outdated hierarchical model of European integration. The paper highlights useful lessons of European macro-regionalism for Russia’s promotion of an integration project on the EAEU territory.