Development of the Russian IT-industry under sanctions

The sanctions imposed by the US and EU countries have a certain negative impact on the Russian economy, affecting the most important sectors: the financial sector, oil and gas, energy, and others. But at the same time, temporary difficulties due to sanctions create conditions for the development of domestic business. Changes in the exchange rate of the national currency contribute to increasing the price competitiveness of domestic production, as well as creating conditions for effective development of the domestic market and increasing non-commodity exports. The Russian IT technology market seems to be recovering against the background of economic stagnation, and some of its segments are growing rapidly. However, despite the positive prerequisites, including the growth of IT exports and the availability of highly qualified personnel, the industry is not growing as fast as it could, and Russia's share in the global information technology market remains extremely low. This article will examine the impact of sanctions on the competitiveness of the Russian economy on the example of the development of the IT industry.