Sanctions and countermeasures: the policy and economic toolbox of Russia's sovereign economy

Economic sovereignty has become a critical priority for nations facing external sanctions. Russia, a major global energy exporter, has experienced escalating Western sanctions since 2014, particularly after the 2022 Ukraine conflict, which targeted its financial systems, technology access, and energy trade. This article analyzes Russia's policy toolkit to counter sanctions and build a sovereign economic model, focusing on strategies such as import substitution, de-dollarization, and energy diplomacy. The agricultural sector and domestic payment systems are highlighted as key areas demonstrating Russia's shift toward self-reliance. While short-term stabilization has been achieved through capital controls and energy exports, long-term challenges persist in overcoming technological dependencies and fostering non-resource industrial competitiveness.