V. V. Spiridonov Role of International Rating Agencies in Implementing International Sanctions against Russia in Light of Events in Ukraine

Abstract: After the Crimean peninsula, according to the results of the people’s referendum, became a part of Russia, some countries in the West openly started talking about political and economic sanctions against the Russian Federation. In particular, one of the measures against Russia was the quick reduction of forecasts for the credit ratings of Russia. For instance, the largest international rating agencies lowered their forecasts for the credit rating of Russian banks and large companies, they did it synchronously and concurrently, as if acting under orders. How painful this step taken by the rating agencies will be for Russia, for consequences may await Russia and the global community in this regard – this is what this paper is devoted to. As noted by A. V. Manoilo, “political sanctions are, first of all, a wave of moral reproach and reprimand which must fall on Russia and make it feel ashamed”. It appears that shame should become a normal state for Russia, not only because of what was done, but in general.

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