Problems of the Russian Market of Industrial Equipment under the Conditions of Foreign Trade Sanctions

Abstract

The fifth package of anti-Russian sanctions, introduced in 2022 in connection with the events in Ukraine, includes most types of industrial equipment, which makes their import into Russia very difficult or impossible. Under these conditions, an acute shortage of technological equipment has formed. According to experts, the need for industrial equipment is not satisfied by at least 25 % of representatives of the manufacturing sector. This article examines the impact of foreign trade sanctions on the Russian market of industrial equipment. In today’s global economic instability and political tensions, Russia is facing restrictions and complications in foreign trade, which significantly affects the industrial sector of the country. The article reflects the classification of industrial equipment. Based on the analysis of empirical data, a quantitative and qualitative characteristic of the Russian market of industrial equipment is given, and the volumes of imports of the goods in question into the territory of the Russian Federation are estimated. The study reflects and systematizes the problems faced by manufacturers and consumers of industrial equipment in Russia under the influence of foreign trade sanctions. In particular, technological limitations, reduced availability of imported components, as well as worsening conditions for exporting products are considered. In addition, the impact of these problems on the overall economic situation and on the competitiveness of Russian enterprises in the world market is reflected. The article talks about the need to take appropriate measures on the part of the state and industrial companies to support the domestic production of industrial equipment and increase its competitiveness.