Russia’s Place and Role in the Transforming Global Monetary and Financial System

The subject of the study is the main directions of transformation of the world monetary and financial system (WMFS). The relevance of the article is due to the need to determine the main directions of the Russian Federation’s actions to strengthen the country’s position in the global economy and global finance in the context of an unprecedented sanctions regime. The purpose of the work is to determine the place and role of Russia in the formation of a new world order in the monetary and financial sphere of interstate relations. The features of the functioning of the current WMFS are analyzed. Russia’s place in the global financial and economic system is determined. The degree of its influence on the functioning of the modern WMFS is revealed. The main directions and forms of the Russian Federation’s participation in the further transformation of the WMFS are determined. It is established that deglobalization, protectionism and fragmentation of the Ministry of Internal Affairs have significantly accelerated as a result of the sanctions policy on the part of the West in connection with the conduct of a special military operation by the Russian Federation in Ukraine and its expected consequences for the future world order and the formation of a new configuration of opposing centers of power. It is concluded that the formation of a new decentralized WMFS will have a complex multi-vector orientation and will be designed to ensure the balance of interests of various poles of financial and economic power. The Russian Federation will have to find a development path that not only meets its national interests as much as possible, but also unites partner countries in an effort to form an equal union that creates opportunities for the growth of all its participants.

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