Prospects for Achieving Technological Sovereignty and Economic Security of Russia in the Face of Sanctions Pressure

Abstract

Under the pressure of sanctions, Russia is faced with a set of new threats and risks that can disrupt the normal reproduction process of the entire national economy. The President and the Government of the Russian Federation initiated measures to stabilize the economy, and to adjust its structure with the view of achieving technological sovereignty. The measures taken, though positively assessed, cannot be considered sufficient. With the world-systems approach, the author scrutinizes the prospects for achieving the goals set. The article highlights the difficulties and institutional features inherent in peripheral economies, in particular Russia. To achieve technological sovereignty, it is proposed to get out of the peripheral position and the corresponding relations of non-equivalent exchange. To do this, it is necessary to initiate significant institutional changes that involve the introduction of planning institutions, a system of fair distribution in the economy, and mechanisms for mitigating acute social problems.