The Backfires of the Use of Financial Instruments for International Political Purposes: the Case of the United States

The subject of the study is financial instruments of international political influence, namely their political effectiveness and side effects for states that have decided to use them. Today, there is a growing body of empirical evidence indicating that the United States is experiencing negative consequences from the use of financial instruments in order to realize its foreign policy interests. There are scientific papers devoted to such topics and issues as positive financial instruments, reverse results and negative reactions of financial coercion. The new reality opens up additional opportunities for a number of countries, including Russia, to assert multipolarity and strengthen their role in the emerging world order. All this actualizes the political science analysis of the consequences of using financial instruments, as well as attempts to systematize the accumulated knowledge in this area. The methodological basis of the research focuses on the concept of global monetary power, competition and the concept of instrumentalization of economic interdependence, which are developing in modern political science. The methods of comparison, content analysis and classification were used, which made it possible to substantiate the concept of "political effectiveness of financial instruments" and systematize certain political and economic consequences of the use of such tools, in particular the United States. The authors conclude that the use of financial instruments by the United States has a negative impact not only on the global financial system that they support, but also on Washington's international political reputation. The United States, using financial instruments, often in a disorderly manner, encounters resistance from those against whom it turns financial pressure. Against the background of all these events, confidence in the existing global financial system is being undermined. There is an increase in the attention of individual countries to gold, the refusal of a number of states from the dollar in international settlements, as well as the deployment of the process of searching for alternatives to the existing hubs of the global financial system, which the United States is trying to use for its international political purposes. In these circumstances, Russia's task is to take advantage of the new opportunities created by the financial and political miscalculations of the United States.

financial instruments, foreign policy, foreign policy tools, sanctions, international political influence, backfires, financial pressure, international political reputation, monetary multipolarity, global financial system