Influence of sanctions on the development of the banking system

Abstract

Purpose: to analyze the impact of sanctions on the development of the banking sector of the economy
Discussion: according to financial and economic experts and analysts, one of the key reasons for the recession of the domestic economy that has been observed in our country in recent years is the sectoral economic sanctions introduced in 2014 in relation to the Russian state. Decline in GDP, depreciation of the national currency, high inflation, growth of lending rates and decline in the savings activity of the Russian population are far from all the consequences that have manifested themselves in recent years. Authors tried to answer the question of whether the sanctions caused the stagnation of the domestic economy and its banking sector or only prompted it to start.
Results: Authors of the article attempt to monitor the current situation of the banking sector of the Russian Federation, as well as to determine its possible development prospects under the conditions of anti-Russian economic sanctions.