Subject The article reviews current trends in the development of international monetary and financial relations of Russia that appeared under the influence of economic crisis, oil shocks and aggravation of relations with the West in 2014–2016. It evaluates their impact on the national economy and further prospects for Russia's participation in international finance. Objectives The aim is to assess changes and economic consequences of the processes of Russia's integration into the world financial system in 2001–2013 and at the present stage. Methods I employ general scientific methods of statistical analysis, logical generalization and scientific abstraction. Results The processes of Russia's integration into the world finance that had been active since the beginning of the 2000s, slowed down sharply in 2014–2016 under the influence of a set of adverse economic and foreign-policy factors. The terminated international monetary and financial relations of Russia had both negative and positive implications. The former include a decreased inflow of foreign investment in the domestic economy, the latter – a reduction in the net capital export and external debt of Russia, which contributed to strengthening its financial security. Conclusions To enhance the efficiency of the country's participation in international finance, it is crucial for the government to pursue an active policy aimed at regulating the market-based methods of capital imports and exports and processes of ruble internationalization.
Keywords: financial system, international monetary and financial relations, international capital movement, internationalization
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