WESTERN ECONOMIC SANCTIONS: STANDING FIRM IN SPITE OF THEM
The article is devoted to the study of topical issues related to the application of Western economic sanctions and the peculiarities of opposition to them by Russia and Belarus. The authors propose to consider economic sanctions as an instrument of international competition. Exploring the theoretical and methodological approaches to the application of economic sanctions and countering them, the conclusion is made about the possibility and necessity of overcoming them. An analysis is made of the instruments of foreign trade policy applied in the customs territory of the EAEU and affecting foreign trade. The relationship between the volume of foreign trade and budget revenues from foreign trade activities is proved. The importance of the Eurasian industry markets in stabilizing the economic situation in the customs territory of the EAEU and countering Western sanctions pressure is shown. The measures taken by Belarus and Russia to levelling Western economic sanctions are presented. The authors’ proposals have been made to counter economic sanctions in the conditions of the customs territory of the EAEU.
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