Yamalo-Nenets autonomous okrug: a pillar region for the development of the Arctic zone

The objective of this study and the present article is to analyze and evaluate the effectiveness of the forms and mechanisms of state support for private investors under foreign sanctions over the past three years. The article studies the prerequisites, forms and mechanisms of state support for the development of the Arctic zone of the Russian Federation under sanctions. The subject of the study is widely discussed in the scientific literature, while a unified approach to evaluating the effectiveness of measures taken has yet to be developed. This is also attributed to the new forms of support for the development of the Arctic regions of the Russian Federation: subsidies provided to residents of the Arctic zone and other inter-budgetary transfers allocated to the Arctic regions for the implementation of social development plans of centers of economic growth. The assessment of the impact of new forms of federal support is still insufficiently studied, which complicates the decision-making process regarding the selection of instruments to influence investors and enhance the investment attractiveness of regions in current economic conditions. The object of the study is the most budget-sufficient Arctic region - Yamalo-Nenets Autonomous Okrug. The authors propose a set of criteria and their own evaluation algorithm. The implementation of the approach proposed by the authors in practice will allow analysts to reliably and most realistically assess the results the regions’ performance, while enabling managers to develop competent decisions aimed at mitigating the adverse effects of sanctions imposed on the economy of the Russian Federation. The article will be useful for students of economics as well as economists, investors, public authorities of the federal subjects of the Russian Federation and municipalities.