Relevance. In the context of the industry’s rapid digital transformation, intellectualisation is becoming a key factor in improving enterprises’ competitiveness and technological sovereignty. Purpose. This article unveils the essence of intellectualisation, which involves transitioning from the mere mechanical use of information to the intelligent, creative management of production processes through artificial intelligence and big data analysis. The eight principles of intellectualisation, which are based on national strategies and the practical experience of AI implementation in the Russian industry, are presented. Methods. These principles form the methodological and strategic basis for the standardisation, safety, and effective application of intellectual technologies. Particular focus is given to intelligent information systems and smart manufacturing technologies, which promote the flexibility, efficiency, and sustainable development of enterprises in the Industry 4.0. The scientific novelty of the research lies in its complex approach to developing intellectualization principles that take into account the specific characteristics of individual industries. The results of this study lay the groundwork for further research and practical solutions aimed at modernising industrial production and achieving national digital economy goals. This article will be of interest to specialists in industrial management, digital technologies, and innovative development.

Relevance. The paper analyses the initiatives of the new US administration on the US withdrawal from the Paris Agreement and the revision of national climate policy. Method. The author examines the main decisions of the Trump administration and unveils the impact of these decisions on the positions of the leading players in global climate policy. Results. Fundamentally, new issues have been identified, such as the dismantling of structures and initiatives that ensured the climate policy of the previous administration, the systemic impact on all components of the ESG agenda, and the termination of all US foreign policy initiatives and climate programs. Scientific novelty. A forecast is given of the possible directions of the greatest activity of the United States, tied to the climate agenda and recommendations have been developed on Russia’s position in the field of climate diplomacy in the context of recent changes in US climate policy.

Subject. The 2023 reform of the Dated Brent benchmark, one of the world’s most important crude oil pricing indicators, marked a significant development in the global commodities market. As part of this reform, the West Texas Intermediate (WTI) Midland grade was added to the Brent basket. Objective. This article examines the goals and intentions of the reform’s initiators and developers who revised the Dated Brent assessment methodology in 2023. It also explores the key factors that made the reform possible. These include the depletion of North Sea oil fields — which for decades served as the physical basis for Dated Brent — the surge in U.S. production of light, low-sulfur crude oil, and European Union sanctions against the Russian oil industry. These sanctions have triggered a sharp increase in U.S. hydrocarbon exports to Europe. Findings. The study demonstrates that the reform was also driven by unsuccessful attempts to create an influential oil benchmark based on U.S. crude exported from Gulf of Mexico ports.

Relevance of the research topic is determined by the growing role of import substitution policy in the development of national economy of the People’s Republic of China and its impact on the structure of bilateral economic relations with the United States. Import substitution allows China to reduce dependence on external supplies while stimulating the development of its own high-tech industries, significantly affecting the trade balance between the two largest global economies. The purpose of this article is to analyze the impact of China’s import substitution policy on bilateral trade with the United States, including assessing its consequences for exports and imports, as well as changes in the trade strategies of both countries. Methodology: the study used statistical data, official reports, and scientific publications, as well as comparative and systemic analysis to identify trends and factors which made an impact on trade and economic relations between the People’s Republic of China and the United States. Scientific novelty: the article singles out specific aspects of China’s import substitution policy of the most significant effect in the context of its impact on trade with the United States, such as high-tech industries and agriculture. The article has advanced for the first time a comprehensive approach to evaluate such impact, taking into account international economic conditions and political tensions. Research results prove that import substitution policy of the People’s Republic of China leads to structural changes in bilateral trade. Namely, it was revealed, that the Chinese strategy of import substitution stimulates the development of domestic production, reducing imports from the United States in several sectors of industries, while China’s exports turned out to be more diversified. The analysis also shows that the United States, in turn, increases trade protectionist policies in response to changes in Chinese policy. The practical significance of the research work refers to the recommendations for government agencies, the business community, and research institutions interested in cooperation strategies and adaptation to new circumstances in global trade, as well as for analysts involved in forecasting potential scenarios in the trade conflict between China and the United States.

The aim of this article is to identify key directions for the transformation of the Russian economy and to develop policy recommendations for implementing the sustainable development agenda. The author employs methods of comparison, deduction, induction, analysis, synthesis, and analogy. The study identifies essential factors for the successful transformation of the economy and proposes financial instruments and mechanisms to advance the sustainable development agenda. Recommendations are formulated to ensure the long-term sustainability of the Russian economy through the development of creative industries, the expansion of sustainable finance markets, the use of public financial policy instruments, and the strengthening of cooperation between the state and business sectors. Promising areas of cooperation with BRICS countries in the field of sustainable development are also outlined. The theoretical and practical significance of the research lies in its identification of key success factors for economic development under new conditions and the proposed recommendations for transforming the Russian economy in line with the principles of sustainable development. Future research will focus on assessing the role of social and environmental capital in shaping a sustainable development economy.

Subject. This article examines the impact of bounded rationality on consumer behavior and how modern artificial intelligence (AI) technologies are transforming economic decision-making processes. The purpose of the study is to demonstrate how human cognitive and time limitations, combined with algorithmic recommendation systems, dynamic pricing, and other AI tools, shape a new environment for making choices. The scientific significance of the research lies in the expansion of the classical «rational agent» model by integrating psychological factors and considering the risk of manipulative potential inherent in AI. The methodological foundation includes works on behavioral economics, the concept of bounded rationality, as well as contemporary studies focused on the application of machine learning and big data analytics in markets for goods, services, and financial products. A comparative analysis of theoretical models is also employed, along with practical case studies from e-commerce, travel services, and robo-advisors. The practical significance of the article lies in the potential to help companies, regulators, and consumers interact more effectively and transparently in the digital economy, taking into account both the benefits and potential risks of algorithmic technologies.

Relevance. State financial control is a mechanism that enables to increase the efficiency of using budget funds. International practice shows that there are different approaches to organise the activities of state financial control bodies, due to a country’s national characteristics, form of government, as well as the applicable legal system in a particular country. The purpose of this study is to analyse international experience in the organisation of state financial control, as well as identify potential areas of its application in the Russian Federation. The objects of the research have become national and supranational bodies of state financial control. The subject of the study is the activities of global state financial control authorities. The methodological basis of the research was a set of general scientific methods of cognition: analysis, synthesis, comparison and classification. Results. During the course of the study, the author identified general and specific characteristics of state financial control bodies in foreign countries, as well as the promising areas for the system of state and municipal financial control of the Russian Federation.

Subject. This article examines portfolio-based asset management models employed by institutional investors amid the high volatility observed in financial markets during the period from 2022 to 2024. Macroeconomic instability, surging inflation, escalating geopolitical risks, and rising interest rates imposed by central banks across the globe contributed to portfolio shifts toward bonds, safe-haven assets (such as gold and commodities), and hedging instruments. Objective. The paper aims to identify the factors that prompted the reassessment of investment strategies by major hedge funds, investment banks, as well as pension, sovereign, and endowment funds. Findings. The authors present a typology of modern investment strategies and analyze how institutional investors applied various approaches to liquidity management and portfolio exposure control during periods of sharp price fluctuations. Through case studies of leadinghedge funds and investment banks, the paper demonstrates that combining quantitative strategies and algorithmic models with fundamental analysis enables investors to achieve high returns while effectively managing risk. Scientific significance. The findings offer valuable insights for institutional investors building portfolios in conditions of elevated market uncertainty.

The relevance of the article’s topic is determined by the current trend of searching for ways to ensure the sustainable development of national space activities and methods of financing them. Along with them, we take into account the emergence of the private space industry and the accelerated overall pace of innovation processes in high-tech sectors of the economy. The objectives of this research work is to analyse the most significant transformation stages of financial sector of the People’s Republic of China and the impact of this process on the country’s achievements in space exploration within the period over the past several decades. The principal method used by the authors is qualitative content analysis, combined with a chronological approach to data systematisation. The scientific novelty lies in the combination of several aspects into a single causal field, namely, the development of Chinese financial system, the organisational structure of its space industry, its achievements, as well as the state support measures. The results of the study suggest that one of the key factors of success in space exploration of the People’s Republic of China could be the combination of market mechanisms with strong elements of a planned economy, which allows for the effective management of investment allocation in this strategic industry. The practical significance of the research work insofar, lies in potential application of its results to provide effective instruments for the financial support of high-tech industries, including the space exploration sector. The conclusions obtained may be beneficial for specialists involved in the planning activities and in the implementation of major national projects.

Subject. The article addresses the integration of climate risks into corporate sustainability strategies, using the example of publicly listed companies in the aquaculture sector of Russia and Norway. Objective. To compare Norwegian companies  (Mowi, Lerøy, and Grieg Seafood) with the Russian company INARCTICA in terms of the presence of sustainability strategies, identification and management of climate risks, and the existence of a dedicated governing body on the board of directors; and to systematize climate risks for companies operating in the Arctic region according to the classification standards of the Task Force on Climate-related Financial Disclosures (TCFD). Results. The study finds that Norwegian companies demonstrate higher maturity in managing climate-related threats. Practical significance. It is recommended that Russian companies enhance their sustainability strategies by conducting a qualitative assessment of climate risks in line with TCFD standards. The article outlines risk mitigation measures based on best international practices.

The relevance of the article is related to the analysis of the business model of the leading carbon-intensive industries included in the holding of the petrochemical market. The objective of the study to improve the value formation model for petrochemical production. The results of evaluation demonstrate the obsolescence of the profit generation model, which confirms the statement that it is necessary to improve value creation models during the transition to a new level of technological development and a change in the economic development model. In addition, shifting consumer interests dictate the need to transform familiar business processes in order to create value for consumers and suppliers. Research results. According to the authors, in the context of the transition to carbon neutrality, the relevant models that form value are models of responsible consumption and transfer of responsibility based on the principles of K. Christensen. The uniqueness of both models lies in the formation of profits due to reproducible raw materials (in fact, recyclable production waste) and the sale of spent or released carbon units, as well as in a new way of interaction between production participants by registering on a technological platform (ESG platform). The authors also note that the area of value creation is changing (decreasing), that is, the area of business competence will be determined by the principles of sustainable development. It should be noted that the level of economic security of petrochemical industries in the new conditions of transition to carbon neutrality directly depends on the value creation model.

Relevance. The development of digital communication and connectivity technologies has significantly influenced labor markets in many countries. One of the consequences of technological progress in this area has been a shift in the geography of job performance, including an increase in the share of people working from home. The COVID-19 pandemic further contributed to the normalization of these processes, forcing a significant portion of workers to switch to remote employment. This article is dedicated to the study of this phenomenon in the Russian labor market from 2006 to 2023. Methods. Based on data from representative population surveys (RLMS-HSE), the scale of remote work in Russia is assessed, the composition of remote workers is described, and major changes in their profile are identified. Using logistic regression methods, the authors identify factors associated with a higher probability of this type of employment. Findings. The authors show that the key determinants are primarily characteristics of the workplace, the individual’s education level, gender, and health status. The results of econometric regressions also indicate an increase in regular remote employment in Russia and a decrease in irregular remote work. Practical significance. The results suggest that the spread of remote work formats could help increase labor force participation and, at least partially, meet the demand for labor in the context of its shortage in Russia.