Abstract
The present article concentrates on revealing role of import substitution in overcoming various Russian economy problems caused by Western governments’ sanctions. Terms studied include foreign trade, diversification, stagnation, logistics, financial system. February 2022 is the beginning of the new period of barriers for Russian economy. It is enduring numerous difficulties despite different measures taken by the government. Import substitution can influence the situation positively with industry support, satisfying consumer demand and providing the national economic security. Saint-Petersburg as a major industrial city is one of the leaders of import substitution in Russia and is developing such important industries as machine building and pharmaceuticals.
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