Strengthening Innovation Potential of Russia in Conditions of Economic Confrontation

The article deals with foreign economic after-effects of changing dynamics of social and economic processes in the Russian Federation as a consequence of parrying new challenges and risks to Russian economic security connected with shaping of a new multi-polar world and aggravation of geopolitical competition. Large-scale prolonged reforms in these spheres have changed drastically the trajectory of Russia development in science, industry, public health system and general competitiveness of the country. The article studies components of political confrontation between the Russian Federation and country-members of the NATO and EU. Enormous anti-Russia sanctions introduced since 2022 have no doubt affected Russian economy. However due to rich raw material base of Russian economy and excessive reserve of social and economic stability Russian economy withstands worsening of international relations with countries of the collective West and geopolitical changes in the number of countries showing pro-Russian position on the global arena. The goal of the research is to investigate strategies and mechanisms of strengthening innovation potential of Russia in conditions of economic confrontation with due regard to current challenges and opportunities, as well as to estimate today’s innovation resources and infrastructure. The article used methods that can estimate the current innovation potential in Russia and namely: document analysis, statistic analysis, comparative analysis, methods of cluster analysis. The research aims at resolving acute problems and ensuring long-term sustainable development, as it envisages national security (development of innovation fosters elaboration of advanced technologies), provides economic stability (strengthening of innovation potential gives an opportunity to diversify economy, reduce dependence on raw material export by creating new growth sources unreceptive to external shocks), improves competitiveness of the country (innovation development helps Russian companies reinforce positions on global markets) and shapes international prestige of Russia as a country that can compete with leading global states in the field of science and technology.