Home  Journals  Finance and Credit  9(825) - 2022 September

The banking system of Russia: Challenges and prospects for development in the conditions of sanctions pressure

Received: 14 July 2022

Received in revised form: 18 August 2022

Accepted: 1 September 2022

Available online: 29 September 2022

Subject Heading: Banking

JEL Classification: Е52, Е58, G21, G24

Pages: 2052–2080

https://doi.org/10.24891/fc.28.9.2052

Subject. This article analyzes the problems and prospects for the development of the banking system of Russia.
Objectives. The article aims to identify the problems and prospects for the development of the Russian banking system under sanctions pressure.
Methods. For the study, I used the logical and systems approaches, analysis and synthesis, and a comparative analysis.
Results. The article identifies the problems of the Russian banking system and proposes certain measures to address these problems.
Conclusions and Relevance. In the future, the banking system with such a policy of strangling the production sector is incompatible with the goals of economic development and defending Russia's national interests and is subject to reformatting. The results can be used by bank employees, public authorities, as well as research and educational organizations.

Keywords: banks, sanctions, inflation, ruble exchange rate, default

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