Transformation of the Russian Monetary Policy Against the Background of Aggravation of Geopolitical Tensions

The subject of the study is transformation Russian monetary policy against background aggravation geopolitical tensions. relevance topic article conditioned by need to analyze and evaluate results pursued authorities in face unprecedented sanctions pressure unfriendly countries on economy 2014-2022. purpose work establish degree influence factors Bank Russia exchange rate ruble. It revealed that key determining ruble during a special military operation are export-import flows premium. By means regression analysis, dynamics premium 2014-2022 determined. effectiveness anti-crisis measures domestic currency stock markets assessed. relatively rapid transition regulator reduction after its emergency increase comparison with financial crisis 2014-2015 emphasized. There global trend towards de-dollarization fragmentation world system, as well. changing power relations between centers. concluded context escalation conflict, took place: loss control over significant part international reserves forced resort non-market methods supporting national currency, which proved be very successful.