Assessment of the impact of economic sanctions on the state of agricultural business in Russia

The article examines the impact of economic sanctions on the state of agricultural business in Russia in the period 2019-2024. Despite the fact that the political confrontation became the primary reason for the imposition of sanctions, the provision of economic impact measures is perceived as one of the effective levers of foreign policy, which affected the agricultural business in the country, contributing to a decrease in production efficiency. The results achieved in the conditions of sanctions in the development of agricultural production in Russia were achieved through the implementation of constant measures to support business from the state, both in the form of direct subsidies to certain of the most problematic industries, and in the form of the creation of a system of preferences. In the course of the work, it was suggested that the tightening of economic sanctions in 2022 caused a noticeable deterioration in the situation in the Russian agricultural business. To verify this assumption, data from Rosstat and the Central Bank of the Russian Federation were used, characterizing the main production, economic and financial indicators of the development of the agro-industrial complex in Russia. It was found that the imposed sanctions became a serious obstacle for the agricultural business, since previously there was no fully autonomous production in the agro-industrial complex – imported machinery, raw materials and supplies were actively used. However, modern challenges have allowed the agro-industrial complex, with the support of the state, to adapt and ensure a steady increase in agricultural production with a positive financial result. The study showed that after the events of 2022, there was an insignificant decrease in efficiency in the agricultural business, but in 2023 it was possible to achieve positive dynamics. At the same time, 2024 is again characterized by a decrease in profitability in the industry due to high rates of inflation in the economy, contributing to faster cost growth. Assessing the impact of sanctions on the state of the agricultural business in Russia, it should be noted that with financial support from the state, the agro-industrial complex maintains a stable position and an optimal level of economic profitability.