Russia's 'Import Substitution' Is a Rip-Off

Russia's 'Import Substitution' Is a Rip-Off

It would seem that the whole agenda of "import substitution," the current mantra of the Russian authorities, which is being pushed across industries and goods markets, has no political future.

The practice leaves consumers with fewer goods, while the remaining products are lower in quality and more expensive than before — regardless of the market sector concerned.

Whether simple products such as cheese or wine, or complex ones such as medicines or software, the results of import bans are always the same: the consumer pays more for a smaller quantity of goods.

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