Sanctions legal regime of banking activity

The article presents a critical analysis of the current state of the theory, legislation and practice of the sanctioned legal regime of banking activities. According to the results of the study, it is being analysed and concluded that the term “sanctions” can be used to determine compulsory measures imposed unilaterally by individual states or their unions. The definition of the category “sanctions legal regime of banking activities” is also being presented. The sanctions of foreign states and their unions, depending on their addresses and content, are differentiated into personal (blocking or payment), in relation to the sector of state banks (financial), regional (the Crimea embargo) and country. The classification of sanctions according to the nature of jurisdiction into territorial and extraterritorial is proposed. The differences between the EU and U.S. sanctions policies are being revealed. The negative consequences of the impact of sanctions pressure on the Russian banking system were identified, which include limiting its access to foreign capital markets, blocking international assets, destroying the payment infrastructure, restricting the free circulation of cash currency: euros and dollars. In conclusion, the need to develop the concept of countering the sanctions pressure on the national banking system is justified and its main postulates are formulated.