Legal Aspects of Functioning of the National Welfare Fund in the Conditions of International Sanctions Application

The present article is devoted to the consideration of issues related to the legal peculiarities of formation and use of the main sovereign fund of the Russian Federation in the conditions of economic crisis. The basis of the research is the objective needs of modern Russian society in achieving the national development goals of the state and in the inviolability of its sovereignty, which determines the special relevance of the effective functioning of the National Welfare Fund of the Russian Federation to counteract the sanctions pressure of unfriendly countries. It has been established that the National Welfare Fund of the Russian Federation can be considered from different positions as a multidimensional concept: as a type of economic relations, as a special-purpose fund of money formed within the federal budget, as a set of interrelated specialised powers of public authorities and as one of the key primary methods of budget regulation. In the course of the conducted research some aspects of legal regulation of public relations on the formation, distribution and use of the National Welfare Fund of the Russian Federation, which need to be updated and modified, have been identified. Conceptual proposals aimed at doctrination and regulation of the specified groups of public relations in the norms of financial law are formulated.