Putin: import substitution is temporary tool for Russia

Putin: import substitution is temporary tool for Russia

Import substitution in Russia is a temporary measure necessary to adjust the current situation, the country's President Vladimir Putin said at a meeting with businesswomen.

"The idea of import substitution itself is not universal and is not what we should strive for eventually," Putin said, noting that import substitution should not undermine competition. 

"This is a very important thing. We should all understand it, and all this import substitution is a temporary thing. I want everyone to understand it… This is a temporary tool to adjust the current situation," RIA Novosti cited President as saying.

"We should aim at producing such products, of such quality and with such affordable price that it is competitive not on our, but on the global market," he added.

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