Monetary and Credit Legal Means (Instruments) of Ensuring Russia’s Economic Security

The list of instruments and methods of monetary policy in Article 35 of the Law on the Bank of Russia is addressed to the regulator and leaves outside its scope a significant part of legal means, i.e. emission monopoly, banking regulation and supervision, oversight in the national payment system, and currency regulation. The article aims to identify and develop a system of monetary and credit legal means of ensuring economic security. The methodology comprises analysis, synthesis, systemic and formal legal methods, as well as an analysis of legal practice. The study proposes a definition of monetary and credit legal instruments for ensuring economic security and classifies them according to the mechanism of the impact. It identifies emission, monetary, and currency instruments that indirectly influence economic security through intermediate economic reactions, as well as regulation and supervision instruments that have a direct impact. The article also substantiates the category of selective monetary and credit legal instruments, characterized by extraordinary introduction procedures, a special subject regulation, anti-crisis objectives, and a temporary nature. Two trends in their application have been identified: narrowing the restrictions on the range of addressees instead of their abolition, and the shift of selective measures into ordinary regulation.