The subject of the research is the sanction decisions to the RF Central Bank and the MIR payment system in response to the Russian Federation’s (RF) invasion of Ukraine in 2022. The data were mainly obtained from the US Department of the Treasury, the Central Bank of the Russian Federation, the Statistical Committee of the Russian Federation, and SWIFT. The interaction of political and economic relations was preferred as the research method. It has been concluded that sanctions are applied to the RFMB within the scope of the interaction of economic and political relations. After the USSR, RF government and the West moved to include RF in world trade and the world payment system. During Yeltsin’s period, poverty increased in RF and expectations from the West were not realized. The RF government openly objected to the US’s global dominance policy during the Putin period. RF demanded the relations with the West at the level of equality in international politics. After invaded Georgia in 2008 and the Crimea in 2014, it was seen that the West responded to the RF, which invaded Ukraine in February 2022, with sanctions, including the RFMB. The RFMB has taken steps to reduce the negative impact of sanctions on the RF economy and to regulate domestic and international money flows. It has been concluded that it is not possible to accurately measure both the effect and the results of the sanctions applied to the RFMB and the payment system, especially after the RFMB stopped publishing some data
|Early Pub Date||December 29, 2022|
|Publication Date||December 31, 2022|
|Published in Issue||Year 2022 Volume: 8 Issue: 3|
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