The import substitution via the realization of the cluster initiatives in the region

The Russian Federation’s economic development since 2012 can be described as a difficult phase in the strengthening of international economic relations, the period of the economy’s systematic decline. The main reason is the sanctions of the USA and EU against the Russian Federation. We can assert the situation of the external credit resources lack and the impossibility of previously concluded agreements with major Western suppliers for imports of high-tech equipment implementation. It becomes necessary to implement economic incentives to support the projects of import substitution industries developing and the competitiveness of the Russian export. In this work, the formation of clusters is considered as an effective way of supporting regions of the Russian Federation in providing the aim to produce the competitive products for international food market, tourism sector, construction market and for consumer goods and high technology markets. The capital inflow reduction into the Russian Federation as a result of the ruble savings’ conversion to the dollar – is the reason of the federal and regional import substitution policy development. The next aim is the endorsement of the Russian companies’ technological cooperation with the large foreign corporations.