Influence of international economic sanctions on importation operations of Ukraine

Abstract

Introduction. The article assesses the losses of import-oriented sectors of the Ukrainian economy as a result of possible mirror sanctions of the Republic of Belarus. The authors are convinced that the mirrored sanctions imposed by Belarus will cause a significant collapse in imports of certain critical goods in Ukraine, will significantly affect the decline in total GDP.

It is substantiated that the high concentration of imports of fuels and lubricants and even one of the suppliers requires the Government of Ukraine to take measures to diversify imports, increase domestic fuel production, involve the alcohol industry in the production of technical alcohols, which would become part of gasoline products, reorientation of ground and development of underground electric transport, etc.

Purpose. Rationale for the change in the vector of import flows of Ukraine and the increase in domestic production of Ukraine, caused by the potential threat of international sanctions against the Republic of Belarus.

Method (methodology). The study was conducted using systematic and dialectical approaches, methods of analysis and synthesis, scientific abstraction, logical approach to the study of economic processes of foreign trade of Ukraine, analysis of time series – to study the dynamics of foreign trade of Ukraine in terms of product groups; causal links – justification of changes in the geographical vector of export-import orientation of Ukraine due to potential international sanctions against Belarus; system approach – to identify promising areas of development of the domestic economy and the search for new areas of foreign trade.

Results. The theoretical concept of economic security of Ukraine in the direction of increasing domestic fuel production, involvement of the alcohol industry in the production of technical alcohols, which would become part of gasoline products, reorientation of ground and underground electric transport, implementation of new sources of fuel imports, etc.