The term “sanctions” is not clearly defined in domestic legislation, so it is definitely quite difficult to clarify it. In this regard, you should turn to scientific explanations. Next, we consider the concept and types of sanctions. 
Opinions of some authors
The term “sanctions” is formulated by Pole as “coercive measures, expressed in monetary form and applied to organizations as a result of their violation of existing laws in the implementation of financial and economic activities”. However, some experts consider this definition insufficiently complete. In their opinion, this wording does not affect the types of sanctions provided for participants in budget relations. In addition, measures of influence that are applied in case of non-compliance with the terms of the agreements are not taken into account.
From this position, the definition given by Gryaznova can be considered more voluminous. In particular, she writes that sanctions are coercive measures that are expressed in monetary form and are applied to the subjects of the control process due to their improper fulfillment of their duties or rights or evasion of this. Thus, the Budget Code uses the definition of “a measure of responsibility for violations of financial legislation”. This means that coercive tools such as fines, penalties and so on can be applied. 
Legal aspect
As coercive measures against violators, legal sanctions are used in the International Convention governing the fight against the financing of terrorism. The Federal Law "On Bankruptcy" determines the methods of influence that can be applied by one organization in relation to another according to the terms of the agreement, or by the authorized body regarding the legal entity. These measures are included in the article “obligatory payments” that are not included in the “structure of the enterprise”, which is declared insolvent. Art. 64 of the Civil Code uses the definition of financial penalties as measures applied in case of violation of contractual terms between the bank, individuals, attracting funds, and directly the depositor on the part of the banking organization. For other cases, the law provides a specific list of sanctions (forfeit, penalty and so on). NK also uses the term "financial penalties." The list of tax sanctions is presented in the form of:
- percent;
- penalties;
- fines.
Along with this, the sizes of certain penalties are determined. The provisions of the Customs and Budget Codes contain only types of sanctions. In accordance with the rules, these penalties are applied in case of any violation of financial legislation. As for the sizes that have certain types of sanctions, as well as the procedure for imposing them, this is determined by the agro-industrial complex. 
Explanation
Given the above, two definitions can be used:
- Penalties for violations of financial law. They usually include such types of sanctions as account blocking, forfeit, interest and so on.
- The measure of liability, expressed in money, for violations of the law or the terms of the agreement.
In the latter case, penalties characterize the degree of voluntariness, intent, consciousness with which a person made a decision and then acted according to him. The meaning in this case is that this or that measure of responsibility that the subject bears in a particular case depends on particular conditions.We are talking about real opportunities and circumstances that contribute to the formation of a conscious attitude to the likely consequences of their behavior, as well as self-determination in relation to their actions. Sanctions thus act as “measures” of liability arising from misconduct. 
Classification
In domestic law, sanctions are divided into categories in accordance with the branches of law, the grounds for application, and forms. In the latter case, penalties may be presented in the form of:
- Blocking accounts, expenses, suspension of operations in credit organizations.
- Penalties. They are imposed due to untimely execution, delay in financial obligations. As a rule, interest is set as a percentage of the amount of unpaid funds. Accrual is carried out for each overdue day for a certain period. After it, a one-time payment is made.
- Fines. They represent monetary penalties paid by violators. The size in this case is fixed.
- Forfeit. These coercive measures are widely used as a means of enforcing an obligation. The penalty is the amount of money determined by law or by agreement, which should be paid to the creditor by the debtor in case of failure by the latter to fulfill or improper implementation of the established obligation.
Locks
According to paragraph 1, Art. 76 of the Tax Code, authorized bodies may suspend operations on accounts in the following cases:
- The presence of arrears on the deduction of fines, fees, penalties.
- Delays in the submission of a declaration by more than 10 calendar days.
The suspension of operations on accounts and the blocking of expenses in credit companies are measures that apply to persons who violate financial laws.
Classification by Law
The selection of certain penalties is carried out in accordance with regulatory enactments in the field of regulation of which a violation was committed. By industry, coercive measures are divided into currency, budget, customs, and tax sanctions. Accordingly, when choosing them, they should be guided by the Customs, Budget or other code. 
Application grounds
On this basis, sanctions can be divided into penalties that come from the contract, the national regulatory act, and World Law. If a different procedure is established under an international treaty of the Russian Federation, different from that provided for in the legislation, then the rules of the first document are used. In turn, national regulations are considered primary with respect to agreements of economic entities.
Retaliatory sanctions
This definition has been actively applied in the domestic political sphere since last year. The reason for this was the economic sanctions imposed by a number of EU and US countries against the Russian state. The government has responded to these measures by banning the supply of imported food products from abroad. These restrictions affected only those countries that introduced economic sanctions. However, the measures taken by the government aroused mixed opinion among experts. So, some believe that retaliatory sanctions will harm primarily the country's population. However, authorities say that Russia has enough resources to ensure stability for the consumer in the created conditions. In addition, according to the analysis of the economic condition of Russia, experts note an increase in investment in the country by a number of foreign states. 
The importance of interventions
It can be determined by considering the main tasks of these tools. In particular, the penalty function of financial and legal responsibility is implemented in the form of punishment and acts as a state reaction to the harm caused to public relations.The use of such sanctions should be carried out in accordance with the principle of individualization of the liability incurred. The application of these measures depends on the degree and nature of the danger to society, taking into account the purpose, motive, form of guilt, circumstances (aggravating and mitigating). These conditions are most fully reflected in the Tax Code, Ch. 15. Sanctions also play a precautionary (preventive) role. The main goal in this case is the prevention of violations of the established rules and regulations governing the financial activity.
This function is expressed in the fact that the probable conviction of the perpetrator by the public when committing a crime will manifest itself in the form of deprivation of an organizational or property nature. Which, of course, will be an undesirable consequence for the violator. Often, the measures of influence are focused not on the actual punishment of the offender, but on ensuring the protection of the public interest, restoration of the rights and interests of the state and municipal formations that are infringed on the unlawful behavior of the subject.
In these cases, responsibility performs a compensatory (legal recovery) function. It is most clearly implemented through the use of sanctions defined in budget legislation. With the elimination of offenses, thus, there is a restoration of order. Financial and legal responsibility also performs an alarm function. It manifests itself when characterizing a person who has committed an illegal act. So, the presence of a financial wrongful act may be a signal indicating the need to ensure closer attention to a specific subject by authorized bodies carrying out control activities in the financial sector.
