The impact of sanctions policy on private investors' investment strategies in the Russian stock market

The objective of the study is to examine the impact of the sanctions policy imposed against Russia in 2022 on the investment strategies of private investors. The article analyzes changes in the behavior of individuals on the Russian stock market caused by the freezing of foreign assets, limited access to international capital markets, increased currency risks and reduced liquidity. The methodological basis was statistical data from the Moscow Stock Exchange and the Bank of Russia, as well as analytical studies of key trends in asset redistribution in the portfolios of retail investors. As a result, it was found that under the conditions of sanctions, there was a transition to more conservative strategies, an increase in interest in bonds, index funds and gold, as well as an increase in the share of short-term and defensive instruments. A comparison is made with the international experience of sanctions pressure and its consequences for investor behavior.

For citation: Dubkov G.I., Shashina I.A. The impact of sanctions policy on private investors' investment strategies in the Russian stock market // Uchenye zapiski Mezhdunarodnogo bankovskogo instituta [Proceedings of the International Banking Institute]. 2026. 1 (55). pp. 94-108 (in Russ.). EDN: GMDNYL.

Funding: This research received no external funding.