Business under sanctions

Sanctions. Someone sees this phenomenon as extremely negative, but is it really that bad? Food sanctions, that is, a ban on the import of certain goods from abroad, caused such a phenomenon as import substitution. Products that were previously imported from the West must now be replaced by similar ones, but of domestic production.

There is often an opinion among economists that import substitution should have been started a couple of decades ago in order to provide the country with goods of its own production and create new jobs, which are always in short supply. Why didn’t they do this earlier, we will not argue. Continue reading →