Russia: analysts announced the failure of the program of import substitution of products

Published 2020년 12월 7일

Tridge summary

A study by the national rating agency, Kommersant, has found that Russia has not achieved its target indicators of import substitution since the 2012 import substitution strategy, following the imposition of sanctions on certain products from Western countries in 2014. The targets for decreases in imports of dairy products, fruit and vegetable products, and meat have not been met, and supplies from countries under sanctions have been replaced by imports from third countries. Domestic production of poultry, pork, and fish has increased, but there has been re-export of products prohibited for direct import into Russia. Experts disagree on the economic profitability of re-exporting European fish to Russia through Chile.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Analysts calculated that the target indicators of import substitution for a number of goods could not be achieved and supplies from countries that fell under the sanctions were replaced by the import of goods from third countries. In the eight years since the adoption of the import substitution strategy in the context of the current ban on the import of certain products, Russia has not been able to achieve the planned targets, it follows from a study by the national rating agency (NRA), Kommersant reports. In August 2014, an embargo was imposed on the import of certain categories of goods from Western countries into the country as a response to Western sanctions. The first ban on the supply of goods - meat, fish, dairy products, cheeses, vegetables, fruits - concerned the EU countries and the United States. A year later, the sanctions were extended to Albania, Liechtenstein, Iceland and Montenegro, and later to Ukraine. It was planned to replace the falling production volume with ...

Source: Zol