DYNAMICS OF CHANGES IN THE RUSSIAN BANKING SECTOR UNDER THE IMPACT OF INTERNATIONAL SANCTIONS

Abstract

This study discusses the development of the banking market of the Russian Federation in the
context of economic sanctions imposed by Western countries. This development, of course, is
of great importance in analyzing the situation of the market before the sanctions process and in
determining the fundamental changes during the sanctions period. In the study, before and after
sanctions data announced by the banks of the Russian Federation were compared. At the same
time, information obtained through interview from a bank manager in Russia was examined. In
this process, it draws particular attention to the compliance strategies that banks have begun to
implement to minimize the impact of sanctions and continue their activities.