Foreign Economic Conditions for Russia's Development: Isolation and Reorientation

Abstract

The paper considers the main factors of foreign economic relations dynamics of Russia in the last two years. Contrary to the original expectations, Western sanctions did not lead to the full isolation of the Russian economy. Rather, it experienced a reorientation towards countries, which do not support sanctions regime, as well as transition of a large part of foreign trade into an informal sector. The paper discusses main factors of the persistent integration of Russia in the world economy, as well as potential changes in the mid- and long-term perspectives.