From the concept of financial security by I.I. Kucherov to the modern paradigm of the financial sovereignty of the state: risk management as a key element

The evolution of the doctrinal foundations for the protection of national financial interests in the context of modern geo-economic challenges has been revealed. The subject of the study is the transformation of the concept of financial security, developed by Professor I.I. Kucherov, into the modern paradigm of financial sovereignty, as well as the key role of risk management as a systemic element ensuring this transformation. The object of the study is the sphere of financial security and the financial sovereignty of the state as interrelated and sequentially developing paradigms. The work analyzes the shift in focus from a protective model aimed at neutralizing threats to a sovereign model affirming the independence of the financial system through the lens of I.I. Kucherov's scientific works, particularly his concept of financial security risks. It is argued that risk management serves as a linking element and transformational mechanism between these two models. The methods and methodology include: comparative analysis for comparing concepts of financial security and financial sovereignty, systemic analysis for studying financial security as a complex phenomenon, structural-functional method for analyzing the interconnections between elements of financial security and financial sovereignty, and a formal-legal method for analyzing regulatory legal acts governing financial security. For the first time, the evolution of I.I. Kucherov's scientific views on financial security risks has been analyzed in the context of their transformation into financial sovereignty risks. The transition from the paradigm of protection to the paradigm of sovereignty has been justified, where risk management becomes a key systemic element. Risk management serves as a linking element between the models, transforming identified threats (for example, the risk of disconnection from SWIFT) into an incentive for creating sovereign instruments (national payment systems and financial messaging systems). A three-stage algorithm for sovereign risk management has been formulated and detailed, which includes predictive assessment, the creation of sovereign neutralization mechanisms, and sovereign legal regulation. An author's concept of a sovereign risk model, adapted to modern geo-economic realities, is introduced into scientific circulation. The practical significance lies in the fact that the proposed algorithm serves as a methodological basis for developing specific measures to strengthen Russia's financial sovereignty in the context of sanctions pressure, and can also be used in the process of strategic planning and the establishment of resilient national financial institutions.

financial security, financial sovereignty, risk management, I.I. Kucherov, shadow economy, money laundering, strategic planning, sovereign financial institutions, legal regulation, national payment system