DEVELOPMENT OF A MECHANISM FOR FINANCING RUSSIAN INNOVATIONS UNDER EU AND US SANCTIONS
The Russian economy occupies a significant place in the world economy. In terms of GDP, Russia is in 11th place. However, the level of innovative development is at a rather low level. In the global innovation index, Russia ranks 45th, and in the ranking of innovative economies, it ranks 33rd. Thus, Russia can be attributed to the leading countries in the world economy and extensive economic development. Other countries in this group include India and Brazil. All this requires significant efforts from the Russian economy to modernize the innovation infrastructure to accelerate Russia's innovation development. An ideal example is South Korea, which is in tenth place in terms of GDP, and is in second place in the ranking of innovative economies. This allows us to conclude that South Korea achieves this result through innovation in the country's economy. The development of the Russian innovation system was significantly affected by the COVID-19 pandemic, but it could not have such a negative impact as the EU and US sanctions imposed after the outbreak of hostilities in Ukraine. At the time of the imposition of sanctions, Russia was integrated into the global financial system, which allowed it to finance innovations through traditional methods. However, the introduction of EU and US sanctions made it necessary to develop new effective methods of financing innovation. The purpose of this study is to develop methods for financing Russian innovation projects in a difficult external and internal economic and political situation. Thus, the work systematizes the existing methods of financing innovations and systematizes the existing methods of financing innovative projects. Based on this analysis, the author's approach to the formation of a mechanism for financing Russian innovations in the context of US and EU sanctions is presented.