Russia allocates 71.7B rubles for new materials and chemistry national project

Russia's government has submitted a budget plan allocating 71.7 billion rubles over three years for the 'New Materials and Chemistry' national project, signaling a state-driven push to develop domestic advanced materials and chemical industries. The move is part of Russia's broader import-substitution strategy amid Western sanctions, but details on specific programs and expected outcomes remain unclear. This investment could reduce Russia's reliance on foreign high-tech materials, though its effectiveness is uncertain.