China News Agency, Moscow, March 19 (Reporter Tian Bing) Medvedev, Vice Chairman of the Russian Federation Security Council, said on the 19th that the Russian economy will not collapse due to sanctions from the United States and the West.

  Medvedev posted on social media that day that Russia has all the possibilities for its own development.

Russia's development has been largely driven by sanctions previously imposed on Russia, which have forced Russia to pursue a more aggressive import substitution policy in various fields, including the development of new technologies, products and medicines.

He pointed out that the government has made a number of decisions to support economic development, including social assistance and additional financing for high-tech industries, agriculture, and banking.

  Medvedev said that Russia has many reliable partners.

"It's a huge and promising market that won't be torn apart by contradictions like Europe. The results of this partnership and cooperation will be very significant."

  Medvedev stressed that in the context of sanctions, Russia needs to develop its own production in areas that have not yet developed.

He pointed out that this is a difficult task, especially under the current conditions, but unity and mutual assistance always enable Russia to develop itself in difficult times.

  According to a report by the TASS news agency on the 19th, Belyakov, vice president of the Russian Skolkovo Foundation, said that import substitution in Russia's high-tech field will take more than ten years.

He believes that rebuilding the supply chain and collaboration with a large number of partners that have been destroyed by sanctions is a long-term strategic plan, and completing this systematic work will take time and cannot be expected to be quick wins.

  The Skolkovo Foundation is a non-profit organization authorized by the Russian government. It was established in 2010 and is the management company of the Skolkovo Innovation Center.

The purpose of the foundation is to support high-tech entrepreneurship in Russia and to commercialize scientific research results.

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