Cessation of financial information exchange with the Russian Federation: implications for domestic financial sovereignty

In 2022, a number of states announced the “suspension” or complete cessation of the automatic exchange of financial and tax information upon request. The present article analyzes the consequences of this decision in terms of its impact on the state sovereignty of the Russian Federation. The author analyzes the essence of unilateral refusal by foreign states to fulfill obligations under international agreements in the context of the impact of such refusal on the sovereign rights of the parties to these agreements answers the question of whether such cessation resulted in the restriction of Russian financial, in particular fiscal sovereignty. The paper also evaluates the measures and actions taken in response to the cessation of the exchange of financial information, concluding that the financial independence of the Russian Federation is realized through them.