Economic Ideology of Sanction Policy: Fundamentals for Unfair Competition

Abstract

More and more new restrictions are being introduced against the Russian Federation – sectoral and financial sanctions, personal restrictions, new packages of sanctions are being prepared. The article attempts to show the hidden goals of the sanctions policy through a political and economic analysis of the states that initiated the sanctions policy. The analysis proves that the purpose of the sanctions is not only to weaken the Russian Federation economically, but also to poor the allies of the United States, as the initiator of the sanctions, in full accordance with the sanctions paradox of D. Drezner. Protectionism as an economic policy has become entrenched in the actions of the American administration, which can be observed in the processes of deindustrialization of Germany and the weakening of the economy of the European Union countries as a whole. It is important to note that the debt strategy adopted by the American authorities as an element of economic policy has deep historical roots and was proposed by J.M. Keynes to overcome the economic consequences of the war. The inability or unwillingness to abandon the debt strategy, as well as the rapid reduction in the possibilities of using internal sources of economic growth, dictates to the United States the need to ensure external sources of economic growth, where the forceful elimination of a competitor (the Russian Federation) from the European markets of energy products, fertilizers, agricultural raw materials and metals becomes the tip of the iceberg of the US sanctions policy, however, the underwater part of the iceberg remained hidden. This article is devoted to its exposure. The theoretical significance of the research is the description of the interdependence of sanctions policy and protectionism policy.