Improving Financial Security Model under Sanctions as Sustainable Development Component

Kemerovo institute (branch) of Plekhanov Russian University of Economics, Department of Finance and Banking, Kuznetsky pr.39, Kemerovo, Russia

^* Corresponding author: valkem2@mail.ru

Abstract

This article discusses theoretical and methodological issues of financial and food security, their interrelations with Sustainable development and assessment for Russian regions. It is emphasized that the global financial crisis and economic sanctions have had a substantial impact on the level of security in Russia and its regions. This negative impact is expected to worsen the environment protection and agriculture sector development, what can be the obstacle to sustainable development. The problems hampering the development of own agricultural production are described among which the problem of financing stands out. The conclusion states that there is an increased attention of the agricultural sector support despite their uneasy financial situation. The article underlines the issue of the empirical failure of regional financial independence from the state which complicates the determination of parameters of financial security of the region. The attention is drawn to the link between food security and financial independence of the region