Relevance. Amidst the transformation of the global economy and escalation of geopolitical confrontation, sanctions mechanisms are increasingly being extended to strategically important and knowledge-intensive industries. This article examines the Bureau of Industry and Security (BIS) of the U. S. Department of Commerce as a key instrument for implementing sanctions policy in the area of export controls. The legal and regulatory framework (Export Administration Regulations — EAR), the licensing system, and specialized restricted-party lists (Entity List, MEU List, Denied Persons List, Unverified List) are analysed, shaping mechanisms of both primary and secondary sanctions. Based on an analysis of high-profile enforcement cases (Applied Materials, Luminultra, Microsoft, Exyte Management, Indium Corporation, airlines, Oleg Patsulya, and others), systemic patterns of violation prosecution are identified. A separate section is devoted to an empirical assessment of effects of BIS based on COMTRADE data (2015–2024): a structural gap in direct U.S.-Russian supplies of dual-use categories with an effectiveness of 99+ per cent is identified, as well as a statistically significant correlation with the growth of re-export flows through China and Kazakhstan. It was concluded, that BIS operates as an agent of extraterritorial economic coercion, stimulating the formation of indirect supply channels and imposing increased compliance requirements on third-countries counterparties.

Relevance. This article is devoted to the issues of motivation and assessment of the effectiveness of the introduction of large-scale sanctions against Russia from the viewpoint of foreign analytical centers and experts. The author offers her analytic study of the legal justification for the sanctions policy provided by developed countries. The objective of this research is to present an understanding of the motives behind the sanctions imposed, the attitudes of the expert analytical community, and the effectiveness of such policies. The methods of the analytic research include synthesis of the studied data set, abstraction, induction, deduction, and a systemic approach to analysing socioeconomic problems. The conclusion states that sanctions policy has become a foreign policy instrument on a global economic scale, supported, among other things, by international organisations.

Subject. The study traces the development of the legal norms, institutions, and governance instruments through which the state directed China’s innovation and scientific and technological development throughout the reform period. Objective. The aim of the article is to develop a periodization of state policy that demonstrates how the balance among administrative regulation, market-based incentives, the activities of research organizations, and the innovation efforts of enterprises has evolved. Particular attention is given to the mechanisms for transferring and economically utilizing R&D results, as well as to the gradual enhancement of the status of basic science. Results. The authors systematize the outcomes of these transformations and identify the constraints that continue to limit the effectiveness of China’s governance model in science, technology, and innovation.

The relevance of the study stems from China’s significant role in the global economy and the importance of assessing the extent to which the Chinese economy depends on global markets. The aim of the article is to analyze the dynamics and structure of China’s external debt over the 40-year period of economic reforms. The study examines the specific features of China’s foreign-exchange regulation and the current state of the yuan’s internationalization process. The findings indicate that the key indicators characterizing China’s external debt position remain at a safe level and within internationally recognized threshold values. It is concluded that, owing to a flexible and prudent monetary and foreignexchange policy, China has established an optimal structure of external borrowing, securing favorable terms for the provision of foreign credit resources in accordance with international standards of economic security. The country’s stable economic growth and positive balance of payments constitute the foundation of China’s sustainable financial position.

Object. This article examines current approaches to managing the digital transformation of industrial enterprises in the context of technological and resource constraints in the modern Russian economy. Methods. An analysis of the historical experience of transformations of the domestic industry was conducted, including examples from various industrial sectors. Particular attention is paid to the evolution of methodological approaches — from fragmented automation of individual processes to systemic management models based on the concepts of Industry 4.0 and Industry 5.0. The paper examines key ideological concepts of digitalization: platform business models, cyber-physical systems, digital twins, the Industrial Internet of Things, and the role of humans in next-generation hybrid production systems. Conclusions. The authors substantiate the need to adapt existing digital transformation methodologies to Russian realities, taking into account limitations in capital investment, human resources, and the maturity of technological infrastructure. Scientific significance. The article presents approaches to the formation of target business models for digital transformation and identifies elements of the development of management methodology that influence its success and increase the competitiveness of industrial enterprises.

The objective of the article is to explore the methodological foundations of risk-based monitoring of technological gaps in the industrial system. The relevance of the study is determined by the fact that in the context of sanctions pressure, the transformation of external technological links and the complication of industrial cooperation, the traditional assessment of industrial sustainability does not allow timely identifying specific nodes, the violation of which can lead to disruption of the production process, higher production costs, lower product quality or loss of technological independence. The purpose of the study is to develop methodological provisions for risk-based monitoring of technological gaps, which make it possible to move from the general diagnosis of technological vulnerability to the identification of specific technological nodes, assessment of their criticality and selection of differentiated management response measures. The methodological basis of the research includes a systematic approach, risk-based analysis, elements of graph representation of technological chains, classification of technological nodes and expert-analytical assessment of criticality, exchangeability, supplier concentration, recovery time and consequences of technological communication disruption. The scientific novelty of the article lies in the fact that the technological gap is presented not as a special case of import dependence, but as a special state of the industrial system that occurs when the criticality of the technological node, limited resource exchangeability, high concentration of supply channels and significant recovery time are combined. The classification of technological gaps, the passport of technological gaps, the prioritisation model of gaps by the level of managerial importance and the contour of risk-oriented monitoring are proposed. The practical significance of the results lies in the possibility of using the proposed approach in the formation of industry-specific technological risk maps, import substitution programs, plans for the development of critical technologies, measures to support industrial cooperation and early warning systems for technological failures.

The objective of the article is to examine the complex issues of import substitution policy in Russia, taking into account key economic and political aspects, as well as the challenges of practical implementation. The relevance of the study lies in analyzing current approaches, including government support measures, focusing on critical industries, creating products with unique consumer properties, enhancing the competitiveness of domestic producers, and developing a highly qualified workforce. As a results, the authors identified the reasons for the forced rapid response to the current situation, caused by the introduction of sanctions, growing domestic demand, and the need to offset the drawback to catch up the global standards. General recommendations are given for developing a further strategy based on the classification of import-substituting products. The article is of scientific interest to researchers, postgraduate students, and experts in the field of import substitution issues.

Subject. Modern economic security challenges associated with limited access to critical and end-to-end technologies reinforce the need for improved approaches to analysing the level of technological sovereignty. Given the limited availability of reliable data, the use of probability theory methods in forecasting threats to technological sovereignty is increasingly relevant. These methods allow for the formalisation of a prior information for constructing an economic and mathematical model. Bayesian modeling has turned out to be one of the most effective methods for constructing systems that forecast threats to the level of technological sovereignty within an economic security system. The objective of this study is to indicate the feasibility of applying Bayesian methods to analysing the level of technological sovereignty and substantiating strategic decisions within the economic security system. Results. A model for forecasting threats to the level of technological sovereignty has been developed, demonstrating the cause-and-effect relationships between technological development indicators and the likelihood of economic security threats.

The purpose of this article is to critically rethink the value of the informal tourism sector and propose ways to integrate it into more ethical and sustainable economic models. Methods: the analysis is based on a critical review of literature on tourism, economic development, and social policy. The results demonstrate that the informal sector provides essential sustainability, authentic cultural experiences, and direct benefits to livelihoods often excluded from traditional economic indicators. However, this is achieved through unstable employment, insufficient social protection with vulnerability of exploitation and rigorous inspection of regulatory authorities. The authors conclude by arguing that the informal sector is not a marginal issue, but a central component of a healthy tourism ecosystem, requiring a fundamental paradigm shift. The theoretical novelty of the article lies in its development of the “new economy” discourse, which formalises the principles of pluralistic principles, integration and polycentric governance in tourism. The practical significance of the article consists in its presentation of a multi-level model for managing a sustainable tourism economy.

Research objective. This paper compares the power of structural and technical approaches to inflation forecasting, identifying the model with the lowest forecast error and the most stable results. Materials and methods. The study uses Russian data from 2010 to 2024, covering several business cycles and structural shifts. The selected factors are variables justified by economic theory. The study provides an overview of the following methods: naive forecasting, ARIMA, VAR models, random forest, gradient boosting, etc. Conclusion. Technical models generally demonstrated higher forecasting accuracy compared to structural models. Machine learning methods are promising in forecasting of inflationary processes in Russia.

The objective of the article is to examine the phenomenon of labor precarisation as one of the key manifestations of the transformation of the modern employment market. The aim of the research is to propose a refined conceptualisation of labor precarisation and to develop a set of diagnostic features. Additional task is to demonstrate sectoral manifestations of labor precarisation in Russia (IT, platform services, retail data) and develop practical recommendations for adapting institutional policies. Methodology is based on the author’s analysis of foreign and Russian studies, the content of the concept of labor precarisation is clarified, the factors of its spread are identified, and the main features of precarious employment are systematised. Particular attention is paid to the impact of the digitalisation of the economy and the development of platform forms of employment.

The relevance of the article is due to the practice of developing and implementing IT projects during the active phase of import substitution in the country without taking into account their effectiveness, including in terms of their impact on the sustainable development of companies. The purpose of the study is to identify the key challenges associated with the implementation of digital technologies for the sustainable development of companies. The main research method is a comparative review of methodologies for assessing the effectiveness of the implementation of digital technologies for sustainable development. As a result, the limitations of applying existing approaches to individual projects have been identified. The paper notes that during the implementation of IT projects, the assessment of the effects on the sustainable development of companies is either not carried out or is exclusively of a non-financial, qualitative nature. The practical value of this work lies in the proposal to establish requirements for accounting for economic effects in IT projects, dividing them into sustainable development areas. This will allow for the prioritisation of digital initiatives and the optimisation of the work of budget committees in public companies.

The purpose of this study is to provide a comprehensive analysis of decentralised finance (DeFi) using the Aave lending protocol as a case study. The paper examines the architecture of DeFi, compares decentralised and traditional financial systems, analyses an analogue of financial reporting constructed from publicly available on-chain data, discusses the main advantages and risks of DeFi, and briefly reviews the literature on the key drivers of governance token returns. The methodology includes correlation analysis and the estimation of several linear regression specifications, including models controlling for Ether (ETH) returns. The results indicate that such indices as deposit volume, total value locked (TVL), and active loans possess the strongest explanatory power among the examined on-chain metrics. Collectively, these variables explain up to 47 per cent of the variation in Aave token returns. However, incorporating these factors into models that control for Ether returns only marginally improves the performance of this model, suggesting that the Aave token is highly integrated into the Ethereum ecosystem and remains strongly influenced by broader market trends in the underlying cryptocurrency. Robustness tests confirm the stability of the results across alternative sample periods.