Adaptation of the Russian banking system to new conditions of functioning and development

The increased external sanctions pressure from a number of foreign countries against the Russian Federation since the beginning of 2022 has led to a change in the operating conditions of the Russian banking sector. In this aspect, the current direction of the study is to assess changes in the conditions and emerging factors that determine the conditions for the functioning of the Russian banking system in new geopolitical conditions. In the article, the authors assess the consequences of increased external sanctions pressure against the Russian Federation from a number of foreign countries through an assessment of the dynamics of the main indicators of the banking sector in the Russian Federation for 2018-2022, which showed a significant loss of net profit in 2022 and a trend towards a decrease in the number of credit institutions. The authors have systematized the factors that will determine the functioning and development of the Russian banking sector in the face of external sanctions pressure. It has been established that increased external sanctions pressure has led to a number of risks and threats to the functioning and development of the Russian banking sector, the stability of the state budget system, and the socio-economic situation as a whole, in connection with which a course was taken to ensure technological, financial sovereignty and the achievement of sustainable development goals.