In summary, Russia's economic policy is increasingly focused on security concerns, with a goal of insulating the country from internal and external threats. This has led to a high-profile import-substitution campaign, which began before Western sectoral sanctions were imposed. The campaign is institutionally elaborate and indicates a long-term strategy rather than a short-term expedient. To become more economically sovereign, Russia would need to diversify its economy away from oil and gas exports and towards more export-oriented industries. However, this will require significant investment and will be hindered by Russia's current economic downturn. The management of scarcer resources will be crucial in achieving this goal.
