PROBLEMS OF FUNCTIONING OF THE ELECTRICAL ENGINEERING MARKET IN THE CONTEXT OF SANCTIONS AND IMPORT SUBSTITUTION

Abstract

This article reviews the views of prominent Russian economic figures on the imposed economic sanctions, as well as their foreign colleagues. An analysis is made of the benefits of sanctions against Russia for the main participants in the “Western coalition”. Using the example of the natural gas market, the inappropriateness of blocking energy supplies from Russia is shown. The financial losses from the unfinished Nord Stream 2 project are presented, and how instability in interstate relations between Russia and the EU affected the price of natural gas on the European energy market is considered. In conclusion, conclusions are presented and prospects for economic development for Russia under conditions of sanctions pressure are outlined.