The subjects of the research are tasks, principles, measures and tools, mechanism and factors of implementation of the unified state monetary policy for the medium — t erm period 2023–2025, taking into account the current macroeconomic situation. The purpose of the work is —  based on the examination of the report published by the Bank of Russia “The main directions of the unified state monetary policy for 2023 and the period 2024 and 2025” to identify the problems of the formation and implementation of monetary policy in the medium term in order to successfully achieve the task of transformation of the Russian economy. The report of the Bank of Russia states that the continued targeting of inflation in the medium term as a monetary policy regime increases the efficiency of the use of factors of production in the economy. However, it is noted that the contribution of monetary policy to the economic development of Russia should be more significant due to its conditionality with the process of structural adjustment of the economy and the activation of internal growth factors. Special attention is paid to the problems of modern principles of monetary policy, the effects of its transmission mechanism, the formulation of scenarios of macroeconomic development. Conclusions are drawn that the provisions of the report of the Bank of Russia “The main directions of the unified state monetary policy for 2024 and the period 2024 and 2025” deserve a positive assessment, taking into account the comments and recommendations made by the experts of the Financial University.

The relevance of the article is due to the transitional period of the development of the world community in modern conditions, when Western states are making all possible, often illegitimate attempts to maintain their dominance in the world. The instrument for implementing the strategic plans of Western countries in the long term is mainly the US federal budget as a means of implementing strategic priorities, regardless of which party wins the US presidential election.

The subject of the article is the system of financial and economic relations in the United States, aimed at implementing the strategic priorities of U.S. economic policy for a long time. In modern conditions, this is the reindustrialization of the national economy along with the fulfillment of tasks to ensure social support and protection of the population, as well as to maintain dominance in the world community, and at any cost, including by rewriting the so-called nowhere approved rules of the world order and the formation of coalitions of countries that share the political views of American politicians and economists who advocate planting a «moral» economy in the world and promoting its values.

The article analyzes the strategic economic priorities of D. Trump’s policy and the last budget message of President J. Biden in 2023, identifies elements of continuity and reflects the specifics of the reindustrialization of America.

Conclusions are drawn about the continued growth of the US federal budget deficit, indicating the continuation of the implementation of the “life on loan” model in the economy, which is based on the dollar performing the functions of the world currency, a means of settlement and accumulation.

The depth of the existing contradictions between states in the modern world economy requires a comprehensive and unbiased analysis, because without understanding the true causes of the confrontation between the parties to international relations, it is impossible to make correct and adequate strategic decisions. The subject of the study is the motives and factors of the confrontation between states and business in the modern world economy. The purpose of the work is to identify the causes of the fierce confrontation that manifested itself in the conditions of the Ukrainian conflict of 2022 and which tends to quickly turn into a global economic and geopolitical conflict. In this work, a civilizational approach has been applied to the analysis of the motives, factors and causes of the global confrontation of states. As a result of the conducted research, it is concluded that the modern geopolitical confrontation between Russia and the West is of a civilizational nature and is based on the desire of the countries of Western civilization to preserve their privileges, to force other states to adopt a model of the world financial architecture favorable to them, based on the dominance of the United States and the dollar as a world currency. The main reasons for the aggravation of the confrontation between states are the change in the balance of forces in the world, increased competition for all types of material, financial and labor resources, including highly qualified specialists, digitalization processes that reduce the degree of influence of countries on economic and socio-political processes. 

The subject of the study is the transformation of the Russian monetary policy against the background of the aggravation of geopolitical tensions. The relevance of the topic of the article is conditioned by the need to analyze and evaluate the results of the monetary policy pursued by the monetary authorities in the face of unprecedented sanctions pressure of unfriendly countries on the Russian economy in 2014–2022. The purpose of the work is to establish the degree of influence of geopolitical factors and the monetary policy of the Bank of Russia on the exchange rate of the Russian ruble. It is revealed that the key factors determining the exchange rate of the ruble during a special military operation are export-import flows and the geopolitical premium. By means of regression analysis, the dynamics of the geopolitical premium in 2014–2022 is determined. The effectiveness of anti-crisis measures in the domestic currency and stock markets is assessed. The relatively rapid transition of the regulator to a reduction in the key rate after its emergency increase in comparison with the financial crisis of 2014–2015 is emphasized. There is a global trend towards dedollarization and fragmentation of the world monetary system, as well. changing power relations between global financial centers.

It is concluded that in the context of the escalation of the geopolitical conflict, the transformation of the Russian monetary policy took place: the loss of control over a significant part of international reserves forced the monetary authorities to resort to non-market methods of supporting the national currency, which proved to be very successful.

The relevance of the topic of the article is due to the inadequacy of the current status of the central bank (CB) within the modern monetary system as an issuing authority and the need for its transformation.

Most of the papers devoted to the analysis of the Central Bank’s policy focus mainly on issues of an applied nature. And at the same time, the provision that any seemingly logical recommendations for improving the regulatory activities of the Central Bank cannot be effective without addressing fundamental issues is ignored. One of these is the adequate positioning of the Central Bank within the monetary system. The subject of the study is the status of the Central Bank institution, determined by the nature of the monetary system within which it is located. The purpose of the work is to establish the need to bring into organic conformity the essence of the modern monetary system and the status of the Central Bank, i. e. the whole and part. It is concluded that the national-market nature of the modern monetary system necessitates the transformation of the institution of the Central Bank from the banking institution itself into a special state body for monetary regulation of the market.

The subject of the study is the level of competition in the banking system of the Russian Federation, considered within the framework of the general concept of the Bank of Russia, according to which the absence or weakening of confrontation in the process of interaction and competition between credit institutions and other financial market participants in an effort to secure a strong position in the banking services market can lead to destabilization of the national economy.

The purpose of the work is to determine the level of competition in the banking sector of Russia and to establish the role of small banks in this process based on the application of both classical methods, which include the analysis of market concentration indicators (Herfindahl —  Hirschman, Linda indices), and the new SMI concentration index, which is a modification of the market concentration assessment indicator using the approximation of an ordered sequences of market shares of banks’ assets due to the use of the least squares method. The following results are obtained in the article: based on the use of the Linda approach, by calculating the corresponding market power index with the allocation of classes of leaders of the banking system and small banks, the contribution of small banks to the level of competition in the banking system of the Russian Federation is estimated. The conclusion is made about the presence of monopolistic competition in the banking system of Russia.

The relevance of the research is due to the fact that technological innovations allow not only to accelerate current production processes and increase their efficiency, but also contribute to the emergence of new products and business models, significantly complicating competition and forcing the company’s management to think about how to ensure its sustainable development in conditions of increasing uncertainty, which is also influenced by climatic and geopolitical factors. This problem affects credit institutions, for which uncertainty is expressed in increasing risks in credit and

settlement operations that threaten their stability, capital and the process of value generation itself. Therefore, the subject of the article is to establish compliance with the theory of value creation in banks with their current practice.

The purpose of the work is to determine the influence of these circumstances on the process of value creation in banks, to identify differences from value creation in manufacturing companies.

The article demonstrates that risk management in credit institutions, rather than the generation and sale of banking products, is the core of banking activity in modern conditions, exerting a decisive influence on the efficiency and sustainability of credit institutions. The article proposes a new model of the value chain in banks, analyzes the interrelationships of individual links of the value chain, types of value generation and types of competition. The conclusion is made about the expediency of improving approaches to servicing corporate clients by banks through the transition from the sale of banking products to a comprehensive customer service, taking into account the fact that the success achieved by customers in business is the main condition for the return of borrowed funds and, as a result, expanding the bank’s opportunities to generate income and profit.

The subject of the study is the processes of transformation of the monetary policy of the Bank of Russia in the new economy, contributing to the introduction of digital innovations. The purpose of the work is to establish, through the application of the Taylor rule, the dynamics of the key rate in the Russian Federation. The main research tools were correlation analysis and economic modeling of the Taylor rule in the EViews program based on empirical data of the Russian Federation. In the course of the study, the main goals, principles and rules of the monetary policy of the Bank of Russia are revealed; the essence and advantages of the Taylor rule; the concept of inflation as one of the significant macroeconomic indicators; the methodology for assessing the parameters of the Taylor rule as a monetary policy tool is clarified. Express diagnostics of the effectiveness of the monetary policy of the Bank of Russia, modifications of the Taylor rule were carried out. A set of measures aimed at improving the quality of assessment of the optimal trajectory of the key rate has been developed. 

The relevance of the study is due to the complexity of the implementation of state project management in conditions of lack of resources due to sanctions imposed by Western countries on the import of goods and services to the Russian Federation. The subject of the study is integral indicators in the control system of the project approach to ensuring national security. The purpose of the work is to create a methodology for calculating integral indicators to assess the state of national security. As a result of the study, a classification of integral and partial control indicators was formed; the reasons for the low efficiency of using strictly formalized mathematical methods for the formation of integral indicators in project management were identified, which necessitate the establishment of expert methods for determining the weights of particular indicators for their further linear convolution into integral indicators; an approach to expert formation of weights of particular indicators that reduce the influence of subjective expert opinions. Conclusions are drawn that the use of integral indicators of project management control allows organizations to form a more flexible system of control over the implementation of project management in the areas of national security and socio-economic development of the country.

The subject of the research is methods of financial control of companies’ activities in the conditions of digitalization, which allow ensuring their competitiveness and increasing the cost. The purpose of the article is to establish effective methods of financial control in companies in the digital economy on the basis of a systematic approach to the implementation of digital transformation methods. The article identifies the problems hindering the processes of business transformation in modern conditions, which reduce the quality of financial control in the company. The emphasis is placed on the mechanism of implementing the digital transformation of the company to ensure its effective functioning, including the implementation of successive stages of digitalization based on compliance with the principles of information technology. The role of using blockchain technology, which acts as a secure way of performing operations and storing information, is disclosed. The important role of Big Data technology in the financial control system at the present stage is noted, due to the need for processing and analyzing large amounts of data. It is proved that during the digitalization process in companies, it becomes possible to use artificial intelligence technologies that reduce the influence of the subjective human factor. It is emphasized that in the process of digitalization of the economy, financial control is simplified, the efficiency and accuracy of the response of the subject of control are increased, administrative costs for the implementation of control activities are reduced. It is concluded that it is necessary to substantiate the effectiveness of digitalization methods in the financial control system.

The subject of the study is the transition of the Russian economy to a new industrial policy based on import substitution and orientation to domestic demand. The urgency of this task is due to the formation of a new industrial policy in the context of sanctions pressure on the Russian economy from Western countries. The purpose of the work is to develop proposals for the transition to a new model of the Russian economy based on national priorities for the development of industry and ensuring technological sovereignty. The study demonstrates Russia’s need to maintain the necessary level of industrial production and ensure its growth in mechanical engineering, machine tool construction, microelectronics in conditions of declining exports and inaccessibility of Western markets. The necessity of continuing the policy of import substitution of high technologies in the system–forming sectors of the economy; ensuring in 2023–2025 the priority of the national interests of Russian industry in new technological chains based on the investment model of development is shown.; formation of guaranteed demand for Russian industrial products through the creation of large infrastructure projects. It is established that the social obligations of the state should ensure an increase in the real disposable incomes of the population, which means consumer demand. It is determined that the main risk for the Russian economy will be the deterioration of the geopolitical situation in the world. Conclusions are drawn about the need to change the sectoral structure of the economy that meets national interests; reorientation of industrial relations to a closed cycle inside the country; development of industrial clusters and the involvement of small businesses in points of industrial growth and the conclusion of long-term contracts and orders with them; leadership of the defense complex in industry. 

The object of the study is the monetary policy of states at the end of the second — beginning of the third decade of the XXI century. The subject of the study is the tools of monetary policy, changing under the influence of external factors. The purpose of the work is to establish the degree of effectiveness of monetary policy measures of developed countries due to the fact that many of them were taken during the crisis of 2008–2009. However, at present, force majeure factors have imposed on the general turbulence of modern world politics, which required the development and implementation of new monetary mechanisms. The main attention in the article is paid to the United States as a country that actually determines the direction of further development of the world economy, despite forecasts of the imminent loss of the leading role of both the state itself and its currency. Based on the results of the analysis, conclusions are drawn about the inflationary impact of monetary measures taken in covid times to support national economies and financial institutions and it is proposed to intensify fiscal policy to counter inflation in combination with the adoption of monetary measures, since globalization has led to the intertwining of the mutual influence of the financial and real sectors of the economies of both states individually and the world economy as a whole. Conclusions are drawn that if earlier inflation was considered as a negative phenomenon, restraining primarily consumption and investment in production due to a decrease in the number of purchased goods and services, now scientists are increasingly inclined to the need to accelerate inflation as an incentive for accumulation.

The subjects of the study are the tax burden on the economy and its impact on ensuring economic growth. The purpose of the work is to identify opportunities for the Russian business community to find its own financial resources for the transition to advanced development. It is established that despite the presence in the economy of relatively free funds invested in financial assets, only a small part of them is used to achieve innovative and investment goals to ensure the transition to advanced development. It is revealed that the main part of these funds is not long money and is at the disposal of organizations that do not determine the state of scientific and technological progress in the country. It is proved that the factor preventing organizations belonging to the most progressive branches of production from providing the state with a transition to advanced development is an increased tax burden on entrepreneurial activity. It is proved that the real tax burden of the Russian business community exceeds by an order of magnitude not only the average for the OECD countries, but also for each country that is a member of this organization. Conclusions are drawn that in order to conduct an effective tax policy that contributes to an increase in the pace of economic development, it is necessary to take into account the limits of the tax burden not for the economy as a whole, but separately for business and the population, since the indicator of the share of GDP redistributed through the tax system does not reflect the real situation in this area, since in conditions of insignificant participation of the population in the least affluent part of the country’s population bears the brunt of the tax burden in the formation of state revenues. Possible directions of practical solution of the problem of effective distribution of the tax burden to accelerate the development of the Russian economy are formulated.

The subject of the study is the taxation of the oil and gas sector in the conditions of economic sanctions, structural changes in the mineral raw materials markets.

The purpose of the work is to determine the main directions of development of taxation of mineral extraction in order to provide incentives for their extraction and stable revenues of the budget system.

The current state of taxation of production and export of hydrocarbons, the impact of recent legislative changes on the formation of the revenue side of the budget system of the Russian Federation, the dynamics of oil and gas revenues are analyzed.

The main attention in the article is paid to the scientific analysis of the current state of taxation of the oil and gas sector in the conditions of the embargo and the “price ceiling” for Russian energy resources.

As a result of the research, the directions of the development of the taxation system for the production and export of hydrocarbons based on the basic principles of taxation are formulated, the early completion of the tax maneuver in the oil industry and the need to revise the relevant chapters of the Tax Code of the Russian Federation are justified.

The subject of the study is the financial responsibility of a public legal entity to an organization implementing an investment project, which are parties to an agreement on the protection and promotion of investments, in case of violation of the stabilization clause. The purpose of the work is to develop methodological approaches to determining the real damage (including justification and calculation formulas) arising from various deteriorating conditions of the organization implementing the project. Conclusions are drawn that the real damage to the organization implementing the project, in case of violation of the stabilization clause, is to recover the costs of restoring the violated right.

Such expenses are the difference between the actual and estimated purchase price of goods (works, services); the difference in the cost of payment for procedures, as well as the payment of sanctions to third parties for violating the terms of concluded contracts (in case of an increase in the time and number of procedures, the establishment of additional requirements and prohibitions to the conditions of implementation of the investment project); an increase in the amount of payments (as a result of an increase in the rate of export customs duties, the sale price and the amount of rent for land plots owned by the state and municipal property); fees for negative environmental impact and use of water bodies; additional costs (incurred in connection with the change of the basis for obtaining the rights of the organization implementing the project to land plots that are in state or municipal ownership, as well as reducing / limiting the scope of rights of land owners /land users /landowners /tenants of land plots and changing the timing and scope of state support measures).