Research on Russia's import substitution strategy under Western sanctions

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Abstract

Since the events in Crimea in 2014, the United States and the West have imposed sanctions on Russia's industry, energy, and other key sectors. Russia has used import substitution policy as a measure to drive economic recovery, and the import substitution policy has achieved some success in agriculture, food, consumer goods, and some financial sectors. after Russia conducted special military operations in 2022, Russia adjusted its system, accelerated the revision of industrial planning, improved measures for import substitution, and advanced the implementation of import substitution strategy in replacement. This paper reviews the background of the beginning of import substitution in Russia, discusses Russia's experience and practices in implementing import substitution, analyzes the effects achieved since the implementation of import substitution, and summarizes the main features of import substitution.

About the authors

Zhiyuan Wang

Peoples’ Friendship University of Russia (RUDN University)

Author for correspondence.
Email: 13838712433@163.com
ORCID iD: 0009-0009-5232-2646
117198, Moscow, Miklukho-Maklaya str., 6 (Russia)

Juan Yu

Henan University of Economics and Law (HUEL)

Email: 13838712433@163.com
450046, Jinshui East Road, 180, Zhengzhou City, Henan Province (China)

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