The volume of critical imports to Russia amounts to almost 1 trillion rubles. This was reported by First Deputy Prime Minister Andrei Belousov in an interview with RBC.

According to Belousov, Russia during the pandemic faced the need for a new wave of import substitution in some areas of the economy. "The dependence has not been completely eliminated. Now the import substitution program is being activated again to reduce dependence," Belousov said.

He explained that trade turnover between the countries is "a thin web of relationships." When it breaks, the open Russian economy immediately faces a series of risks.

We shall remind that the Russian Prime Minister Mikhail Mishustin instructed to elaborate suggestions concerning additional measures of governmental support for import substitution by July 15, 2021.

Made in Russia // Made in Russia

Author: Maria Buzanakova