Spiridonov V.V. On the role of money, credit, banks for Russia, in the context of sanctions

Abstract: The dynamics of the processes in world politics and economy poses new challenges to Russia. One of the possible solutions to this problem is the policy of modernization of Russia. Modernization, which is primarily a re-industrialization effort, requires considerable financial resources, and therefore depends on the capacity of the banking system. Without the support of the banking sector the real economy cannot keep up with the demands of our time. In turn, the geopolitical situation in the present moment requires Russian banks to exercise a new approach to global challenges. Methodological basis for this study is a systematic, structural-functional, comparative political economy and comparative approaches, methods of analysis, synthesis, induction, deduction, observation. The processes that take place in global politics and economy are directly related to the challenges that Russia currently faces. Therefore, the importance of the course for the modernization of Russia is quite obvious. It is also clear that modernization would not be complete if it does not cover all areas of social life in Russia. Modernization of the domestic economy must play the most fundamental role, and it will be possible if both, the experience of Russia and that of developed countries is studied and applied carefully.

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