The Legal Value of the Constitutional Foundations of Budgetary Federalism and Currency Sovereignty in Protecting Russia's Interests under Sanctions
( Pp. 42-48)

More about authors
Petrova Galina V. Dr. Sci. (Law), Professor of the Department of Administrative and Financial Law; Professor of the Department of Constitutional and Administrative Law
Moscow State Institute of International Relations of the Ministry of Foreign Affairs of Russia; Institute of International Law and Economics named after A.S. Griboyedov
Moscow, Russian Federation Stupakov Valery I. Cand. Sci. (Law), Associate Professor, Head of the Department of Constitutional and Administrative Law
Institute of International Law and Economics named after A.S. Griboyedov
Moscow, Russian Federation
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Abstract:
Introduction. The article examines in a broad context the legal value of the constitutional provisions on the stabilizing role of budgetary federalism and Russia's currency sovereignty in the context of US and Western sanctions against Russia. The article deals with topical legal problems of counteraction of the Russian economy to foreign sanctions using the ideas of ensuring security and economic growth laid down in the Constitution of the Russian Federation. Within the framework of constitutional and financial law, currency, budgetary, unified economic public-authoritative measures of protection against sanctions are determined. They are based on the doctrinal and conceptual foundations of the stability of the constitutional order and the rule of law of the state. The legal value of the constitutional principles of protecting the monetary, financial, budgetary, economic sovereignty of Russia in the wording of the Constitution of the Russian Federation of 07/04/2020 is noted. It is emphasized that the updated Constitution of the Russian Federation strengthens the financial and stabilization function of the national currency with the planning and coordinating role of budgetary federalism and a single public financial mechanism for ensuring the stability of the financial system and the economy of the state. Materials and methods. The method of legal analysis of the norms of constitutional and financial law emphasizes the legal «value» of protecting budgetary federalism, currency sovereignty, citizens' rights to indexation of budget payments and other norms of the Constitution of the Russian Federation. The goal-setting social and security impact of general and special principles of constitutional law as priorities for the financial and economic stability of the state in the face of external threats was revealed. When considering anti-sanction measures of the President of the Russian Federation and the Government of the Russian Federation for 2020-2022 noted their focus on increasing the role of budgetary federalism, currency sovereignty, the unity of action of public authorities in financial and budgetary relations. Results. The effectiveness and consistency of anti-sanctions legal measures developed by the state over the past three years are shown. The growing influence of special constitutional and legal methods of protecting monetary and financial sovereignty, budgetary and tax federalism, parliamentary control of a balanced interbudgetary and interdepartmental distribution of budget revenues is noted. Discussion and conclusions. Being a constitutional and legal category of financial law, the constitutional principles of budgetary federalism, currency sovereignty, and unity of public authority are applied as a general doctrinal national idea of countering sanctions. In this sense, the constitutional foundations are significant, that is, «valuable» for the implementation of an effective foreign and domestic policy of the state, in the socio-economic, political, defense-strategic, financial and other spheres.
How to Cite:
Petrova G.V., Stupakov V.I., (2022), THE LEGAL VALUE OF THE CONSTITUTIONAL FOUNDATIONS OF BUDGETARY FEDERALISM AND CURRENCY SOVEREIGNTY IN PROTECTING RUSSIA'S INTERESTS UNDER SANCTIONS. Economic Problems and Legal Practice, 2: 42-48. DOI: 10.33693/2541-8025-2022-18-2-42-48
Reference list:
Constitution of the Russian Federation» (adopted by popular vote on 12/12/1993 with amendments approved during the nationwide vote on 07/01/2020).
Federal Law «On the National Payment System» dated June 27, 2011 N 161-FZ (as аmended on July 2, 2021).
Decree of the President of the Russian Federation of February 28, 2022 N 79 (as amended on March 31, 2022) «On the application of special economic measures in connection with the unfriendly actions of the United States and foreign states and international organizations that have joined them».
Decree of the President of the Russian Federation of March 1, 2022 N 81 (as amended on March 31, 2022) «On additional temporary economic measures to ensure the financial stability of the Russian Federation».
Decree of the Government of the Russian Federation of January 21, 2022 N 25-2 «On Approval of the Regulations on the Government Commission for Improving the Stability of the Russian Economy in the Conditions of Sanctions».
Decree of the Government of the Russian Federation of March 9, 2022 N 308 Moscow «On support for Russian organizations and individual entrepreneurs that have been most affected by the introduction of restrictive measures by foreign states»
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Petrova G.V., Stupakov V.I. Financial and legal aspects of ensuring the protection of the political, economic, financial sovereignty of the state in the amendments to the Constitution of the Russian Federation, which entered into force on July 4, 2020// Gaps in Russian legislation. -Volume 13. No. 6. -2020. P. 74-81.
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Keywords:
legal measures to counter sanctions in the Russian Federation, constitutional principles as legal values, fiscal federalism, currency sovereignty.