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Nizhny Tagil, Nov. 25, 2015: Russian President Vladimir Putin (R) during a meeting on the import substitution policy that the government hopes will help Russia weather economic and financial sanctions that have followed the annexation of Crimea (source: dpa)

As sanctions take their toll, Russia turns to import substitution

As the Russian economy’s difficulties deepen, the Kremlin is putting a brave face on things. It maintains that Western sanctions have been beneficial and that its own anti-crisis program is working. Moreover, the government is talking up a new “Strategy 2030” to boost domestic self-sufficiency based on import substitution. The new measures, however, are unlikely to...

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