Shlyundt N.Y., Nefedov S.A., Botasheva A.K. —
The Backfires of the Use of Financial Instruments for International Political Purposes: the Case of the United States
// World Politics. – 2024. – ¹ 4.
– P. 56 - 63.
DOI: 10.25136/2409-8671.2024.4.72066
URL: https://en.e-notabene.ru/wi/article_72066.html
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Abstract: The subject of the study is financial instruments of international political influence, namely their political effectiveness and side effects for states that have decided to use them. Today, there is a growing body of empirical evidence indicating that the United States is experiencing negative consequences from the use of financial instruments in order to realize its foreign policy interests. There are scientific papers devoted to such topics and issues as positive financial instruments, reverse results and negative reactions of financial coercion. The new reality opens up additional opportunities for a number of countries, including Russia, to assert multipolarity and strengthen their role in the emerging world order. All this actualizes the political science analysis of the consequences of using financial instruments, as well as attempts to systematize the accumulated knowledge in this area. The methodological basis of the research focuses on the concept of global monetary power, competition and the concept of instrumentalization of economic interdependence, which are developing in modern political science. The methods of comparison, content analysis and classification were used, which made it possible to substantiate the concept of "political effectiveness of financial instruments" and systematize certain political and economic consequences of the use of such tools, in particular the United States. The authors conclude that the use of financial instruments by the United States has a negative impact not only on the global financial system that they support, but also on Washington's international political reputation. The United States, using financial instruments, often in a disorderly manner, encounters resistance from those against whom it turns financial pressure. Against the background of all these events, confidence in the existing global financial system is being undermined. There is an increase in the attention of individual countries to gold, the refusal of a number of states from the dollar in international settlements, as well as the deployment of the process of searching for alternatives to the existing hubs of the global financial system, which the United States is trying to use for its international political purposes. In these circumstances, Russia's task is to take advantage of the new opportunities created by the financial and political miscalculations of the United States.
Shlyundt N.Y. —
In Search for the Solutions to Increase the Effectiveness of International Political Influence: Convergence of Financial Pressure and Cyberspace Operations in the Foreign Policy of Modern States
// World Politics. – 2018. – ¹ 2.
– P. 45 - 51.
DOI: 10.25136/2409-8671.2018.2.26006
URL: https://en.e-notabene.ru/wi/article_26006.html
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Abstract: The article explores new means of international political influence, namely cyber-financial instruments which are a consequence of convergence of traditional financial measures of pressure with the already widespread cyber-space operations. The author raises general issues related to convergence in politics, considers the prerequisites for their emergence, objects, types and advantages of cyber-financial instruments of foreign policies of modern States, highlighting that they allow the actor who decided to use them to remain incognito and not to destroy the beneficial relationships of economic dependence. Pursuant to the goals established, the author refers to a content analysis of specialized scientific literature on relevant topics, a method of classification highlighting the types of cyber financial instruments, as well as to the study of specific situations that confirm the assumptions. The author comes to the conclusion that a number of new instruments of foreign policy influence which can be called cyber-financial instruments are emerging on the background of interpenetration, convergence of financial infrastructure and cyberspace. Increasingly, these are found to be the preferred means of fighting in the global political arena, used directly by States, their unions, and through their proxy actors. Alongside, the use of these tools brings both greater effectiveness of international pressure and new risks and threats.
Shlyundt N.Y. —
Limitations of Traditional Financial Sanctions as an Instrument of International Political Power
// International relations. – 2017. – ¹ 4.
– P. 23 - 28.
DOI: 10.7256/2454-0641.2017.4.25003
URL: https://en.e-notabene.ru/irmag/article_25003.html
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Abstract: The subject of this study is effectiveness of traditional financial sanctions which, along with the arms embargo and travel ban, are considered the main type of targeted sanctions that, unlike the comprehensive sanctions, have a selective effect. One group of scientists views financial sanctions as a promising means of international influence which has already demonstrated its effectiveness, whereas the other one considers them a measure that has extremely scattered effect. In the context of this dispute, identification and systematization of the problems accompanying the application of financial sanctions should become an urgent task. To achieve this objective, the author refers to the content analysis of specialized scientific literature on the economic instruments of political influence, to comparing the consequences of comprehensive and targeted sanctions, as well as to a study of specific situations that confirm the basic assumptions. The author came to the conclusion that conventional financial sanctions (despite their widespread application in international practice) can not be regarded as an effective instrument of influence, especially given further multilateral globalization of the world. This conclusion is derived from the fact that they give rise to problems of implementation, evasion and side effect. That is why today the leading actors of world politics are trying to expand the list of financial sanctions including measures that require activity in cyberspace.