Organizational and technological mechanisms for ensuring the economic security of the banking sector in the context of long-term sanctions pressure

The publication discusses aspects related to the prospective provision of economic security for the banking system of Russia and its participants in the context of a large-scale sanctions crisis. It is stated that political factors have transformed from challenges into direct threats to the economic security of the banking sector of the Russian Federation and it is substantiated that the corresponding threats are of a long-term nature, which requires the implementation of the most pragmatic approach to the long-term management of the stability of the banking system of the Russian Federation. It is noted that the management of the Russian banking sector, carried out in recent decades by the Central Bank of the Russian Federation, although it could not fully correspond to the tasks of an advanced systemic and structural reform of the financial system, however, on the whole, ensured its crisis stability, forming the desired level of economic security. It is argued that the task of ensuring the continuity of banking services for the Russian economy remains relevant not only for the short term, but also in the longer term, and therefore it is necessary to build organizational and technological mechanisms for ensuring the economic security of the banking sector based on mobilization principles that combine elements of expanding economic freedom. The priority importance of financial innovations in promising mechanisms for ensuring the economic security of the banking sector of the Russian Federation is substantiated, the need for a combination of systemic openness to digitalization and measures to prevent digital financial risks is stated. Measures are determined to develop cooperation between the Russian banking system and the financial sector of friendly states, the urgent need for the institutionalization of Islamic banking in Russia, combined with the development of platforms for peer-to-peer financing, is stated.