The problem of Russian business diversification in the context of sanctions

Grudneva Alla Aleksandrovna

Modern conditions for the development of the Russian economy are characterized by a serious increase in economic sanctions affecting both the financial and real sectors. Within the framework of the established restrictions, as well as taking into account the departure from the Russian market of many large multinational companies, the solution to the problem of achieving the necessary level of efficiency of business development lies in the field of its diversification. At the same time, the transformation of foreign economic relations of Russian business in the context of sanctions leads, on the one hand, to the need for import substitution, and on the other hand, determines the importance of finding new export channels. The study conducted in the article makes it possible to highlight promising areas of diversification of Russian business, taking into account the consequences of financial and economic sanctions.

Keywords:Russian economy, economic industries, business, business diversification, sanctions, "sanctions storm," sanctions pressure.