UDC 336.13
DOI: 10.36871/ek.up.p.r.2023.10.06.013
Authors
Olga L. Bezgacheva,
St. Petersburg University of Management Technologies
and Economics, St. Petersburg, Russia; Pushkin Leningrad State University, St. Petersburg, Russia
Anna Yu. Rumyantseva,
St. Petersburg University of Management Technologies and Economics,
St. Petersburg, Russia
Abstract
The goal of the article is to assess the state of achieving financial sovereignty in Russia and formulate
a list of key areas for strengthening financial independence and financial sovereignty. Financial sovereignty is
the ability of a state to pursue independent domestic and foreign financial policies. It is ensured by financial security
at all levels of management and in all spheres of socio-economic life. This article defines the differences between
the concepts of financial independence and financial sovereignty. The level of financial sovereignty is analyzed
and directions for strengthening financial independence and financial sovereignty are formed. The key factors for
strengthening financial sovereignty include strengthening financial independence within the country and solving
problems to strengthen financial sovereignty on the world stage.
To strengthen financial sovereignty, it is necessary to take into account the variety of factors influencing it. It
is necessary to continue work to strengthen financial independence within the country and financial sovereignty on
the world stage, to complete the formation of regional financial centers that allow their member countries to pursue
an independent financial policy; completion of the search for new forms of payment in international trade (creation
of an accounting and settlement currency independent of the dollar and euro), to develop a mechanism that allows
finding a balance between the financial sovereignty of countries included in new regional blocs and the degree of
its limitation, taking into account the negative experience of the European Union.
Keywords
financial sovereignty, financial independence, Russian Federation, regional financial centers, financial policy
