THE IMPACT OF THE DISRUPTION OF ECONOMIC TIES WITH THE EU AND USA ON THE TRANSFORMATION OF RUSSIAN INDUSTRIAL ENTERPRISES’ PARTICIPATION IN VALUE CHAINS

The problem of dependence on value chains participation for countries is a key one in the modern world. The article is devoted to identifying the role of the restructuring of global value chains in changing production and consumption in conditions of geopolitical instability. The methodological basis of the work is the analysis of current scientific publications. In addition, the results of the article are based on data from domestic and international statistics, annual reports on the state of economic development in Russia and abroad. The objects of research are value chains and global value chains (GVCs). The article reveals that, in modern conditions characterized by increasing geopolitical tensions and fundamental shifts in the global economy, the problem of the development of value chains in Russia is becoming particularly relevant. The large-scale economic sanctions against the Russian Federation and the general trend towards fragmentation of the global economy create unprecedented challenges for the Russian economic system. In these circumstances, Russia is forced to radically revise its strategy of participation in GVCs, to reorient economic ties in the eastern direction and intensify import substitution processes. An objective assessment of Russia’s place in GVCs is given, including an analysis of the macroeconomic benefits and losses from participation in global production networks. Special attention is paid in the article to current trends related to the traditional global value chains disruption and the need for their restructuring. In this context, the potential advantages and disadvantages of the reorientation of Russian GVCs to Eastern markets, as well as the prospects and limitations of the import substitution strategy, are considered. The results of the work contribute to the development of the theory of value chains.

value chains, global value chains, production model, technological progress, optimization, economic relations, sanctions, economic system, key industries, technological dependence, investments, import substitution

Arefyev P. V. The impact of the disruption of economic ties with the EU and USA on the transformation of Russian industrial enterprises’ participation in value chains. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;3(68):114— 120. DOI: 10.25683/VOLBI.2024.68.1080.