In the article the problems of Russian economy under economic sanctions are studied. The economy growing thanks to hydrocarbon exports depends on the prices in the international energy market. Whilst falling oil prices induce the economic slowdown. Lack of proper investment in the restructuring of scientific and technological potential in different sectors of the economy reduces the quality indicators of GDP. Therefore, enhance of economic growth and solution to the import substitution problems is crucial for the transition from the export of raw material to the intensive development.