ИСТИНА

It is well known that since 2014`s year international economic sanctions, that was applied on Russia by US, EU and some other countries, Russian government started import substitution (IS) policy by running import food embargo (which has closed access of US and EU agro/food products to Russian market) and considerable government programs, encouraging agriculture and food industry. This programs include subsidies, low interest rates and other benefits for agro/food producers. After almost 4 years of this policy it is worth to assess the first results of IS policy – it is the main goal of this research. 3 main questions is considered: 1) What is the effectiveness of import food embargo imposed by Russian authorities on foreign countries? 2) What Importsubstitution results were achieved by Russian agro/food industry for 2014-2017 period? (analysis on macro level) 3) What Importsubstitution results were achieved by Russian regions? What are the reasons on so different dynamics on regional level and what are the factors of success?