Regulatory Impact on the Financial Market of the Russian Federation in the Context of Sanctions from Unfriendly States

The purpose of the research. The article considers changes in the legal regulation of the financial market of the Russian Federation associated with the sanctions pressure from foreign states. The process of transformation of Russian law in the context of restrictions, the ongoing changes in modern legal regulation are analyzed. The purpose of the study is to establish and identify the features of legal regulation of individual areas of the financial sphere of the state, in particular, the banking sector, the securities market, the foreign exchange market, the insurance market, and the microfinance market. This is necessary to determine the main directions of development of the financial market in the context of sanctions from unfriendly states. Results. As a result of the research, the author comes to the conclusion that the Russian legislation regulating the financial market is actively changing under the influence of sanctions. The main task remains to strengthen the role of the development of the Russian financial market in the accelerated transformation of the country's economy. At the same time, it is important that financing relies mainly on domestic sources and depends less on external ones. In the context of sanctions and increased restrictions, it is advisable to continue to support the sustainable development and transformation of the Russian economy, taking into account the main factors, as well as to improve financial literacy and financial accessibility in the country, develop long-term financing instruments and the capital market.