Introduction The understanding of state economic sovereignty and the ways of its provision, play an important role in the modern economic life of the global community and separate countries. The fact that authors address to the institutional and legal analysis of the phenomena of Russian economic sovereignty, is related to the theoretical and practical basis of one of the main political foundations of Russian democracy (one of the dominating vectors of subject activity in the interests of economic prosperity). As opposed to other countries in the world, one of the Russian traditions is government sovereignty, including economic, which defined the historical and legal customs of the Russian government sovereignty for centuries. Undervaluation of the economic sovereignty role in bifurcate economic conditions of the Russian reality have a negative impact on Russia's' competitiveness and economic prosperity. The necessity for provision of economic sovereignty in modern conditions can be felt even more, given the expansion of Russia's economic borders as well as strict sanctions policy imposed against the Russian Federation. Furthermore the conditions of emerging global financial crises also play the role. Problems become more actual, when taking into account the territorial and resource potential Russia operates with. Should we remind that given the 3% of global population it holds, Russia takes up around 10% of the global territory, as well as more than 30% of global natural resources. We can suppose that competition for the global stock of natural resources and increased global attention to such high-potential region of the planet will grow in the future. Under such conditions, government sovereignty, as well as economic is of great importance for the Russian Federation. Truly sovereign government cannot force itself to be complacent with transnational and national financial capital, as well as follow the dictated rules which do not go in line with national interests. That is the reason for the important role being devoted to the mechanisms of economic sovereignty that are able to establish the optimal legal balance of all subjects of economic relationships in the system of government. Furthermore, as seen from the experience of development of other countries (notably the EU), not every country can ensure economic sovereignty (Pociovalisteanu and Thalassinos, 2008; Thalassinos et al., 2014; Thalassinos and Dafnos, 2015; Pena-Miguel et al., 2017). Current economic sovereignty cannot be considered as a universal mechanism of total control over all the economic decisions and their national connection. The main question is the process of defining these decisions that should be under national control in order to ensure economic sovereignty that supports internal economic prosperity in Russia (economic growth in the modern world). Authors propose a hypothesis, in accordance to which, the economic sovereignty as a legal category is closely related to the creation of conditions for solving a common problem of economical and government order, expressed in the establishment of an optimal legal economic mechanism, that provides integration and adaptation of Russia into the global economy, on the basis of economic, industrial and innovational interests of all the subjects of economic relationships constructed in constitutional and legal foundations for national economic development (Denisova et al., 2017; Nikolova et al., 2017; Stroeva et al., 2016; Filatova, 2016; Fetai, 2015; Theriou, 2015; Tcvetkov et al., 2015; Vovchenko and Panasenkova, 2013; Vovchenko et al., 2015). The aim of the study is the theoretical, legal and constitutional analysis, of the economic sovereignty as an element of government sovereignty, investigation of its features of legal content as well as the features of legal content of the Russian Federation, plus the legal mechanisms needed for its implementation under modern conditions of globalization. …