Russia has adopted a series of counter-sanctions measures in order to stabilize its domestic markets in response to financial sanctions imposed by the US and the EU since the beginning of 2022.Tracing the movements of Russia's financial markets indicators 2021 through 2024 is conducive to figuring out both short-run effectiveness and long-term limitations observable in exchange,credit and securities markets.A general conclusion can be drawn on basis of the aforementioned studies,i.e.,the necessity of synchronizing counter-sanctions measures with counter-trade ones and of enhancing the role of international settlements with domestic currency,flexibility required in the concrete implementation of the countermeasures,and the importance attached to multilateral financial cooperation.