Foreign economic activity of Russian regions in the context of economic sanctions

Subject. The article addresses trends and results of foreign trade activity of Russian regions in recent years. Objectives. The study aims at the analysis of features of the current state and dynamics of foreign trade of the Russian Federation by federal district, for 2020-2023. Methods. The study draws on methods of statistical and economic analysis. Results. The paper established the main trends in the development of foreign trade in the regions of Russia at the present stage. The analysis data for Moscow and the Moscow Oblast, and St. Petersburg and the Leningrad Oblast, being leaders in terms of exports and imports among the regions of Russia, are of special interest. Conclusions. Based on the application of State support measures to counter sanctions of unfriendly States, the study unveiled promising areas for improving the efficiency of foreign trade in the regions, such as other countries’ assets freeze, creation of a proprietary payment system, replacing the currently unavailable SWIFT, development of foreign economic relations with such States as China, India, Iran, Turkey, Japan, Belarus, etc.