THE LEGAL VALUE OF THE CONSTITUTIONAL FOUNDATIONS OF BUDGETARY FEDERALISM AND CURRENCY SOVEREIGNTY IN PROTECTING RUSSIA'S INTERESTS UNDER SANCTIONS
Authors:   Moscow State Institute of International Relations of the Ministry of Foreign Affairs of Russia, Moscow, Russian Federation, PETROVA GALINA , STUPAKOV VALERY ,   Institute of International Law and Economics named after A.S. Griboyedov
Published: October 2022

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.