Analysis of the influence of external factors on Russia's trade policy and its economic condition
Subject/Topic The subject of the research is international economic relations between the WTO member countries and the participants of the food embargo imposed by the Russian Federation. Goals/Objectives The goal is to analyze the consequences of Russia's accession to the WTO and the introduction of a food embargo on the Russian economy. Tasks Research of the situation in the Russian economy under the conditions of Russia's membership in the WTO and the introduction of a trade embargo by the Russian Federation. Methodology The study was conducted on the basis of current economic data published by government agencies in Internet. Conclusion and Relevance In the context of modern reality, when world trade is not so much a game of tariffs as a game of various non-tariff instruments, for producers, importers, exporters and the state as a whole, whether it is a developed or developing country, it is relevant to analyze the consequences of using non-tariff barriers. The relevance of the problem is determined by the lack of development of theoretical issues that cover the analysis of the features of the application of customs tariff and non-tariff barriers, their impact on foreign trade activities and economic development of the country. The purpose of the article is to analyze the impact of Russia's accession to the WTO and other external factors on its trade turnover and interaction with other countries in the international arena.