OREANDA-NEWS Under the sanctions, the economy of the Russian capital and the country as a whole will be aimed at import substitution and job preservation. This was stated by Moscow Mayor Sergei Sobyanin in his blog. According to him, the city will allocate 7.5 billion rubles for concessional lending to businesses, including 500 million will go to projects to create fast food chains to "fill the niche that foreign players are vacating.

According to the mayor, the main goal is to ensure the well-coordinated work of all enterprises, replace imported goods with Russian ones and save jobs for employees of companies who decided to leave Russia because of sanctions.

The City Commission for Improving the Sustainability of Economic Development will be engaged in business lending. Enterprises will be helped to refinance past obligations, pay salaries and extend the lease of premises. In return, organizations will have to save jobs. 7 billion rubles will be spent on this initiative.

Due to the sanctions, several foreign fast food chains, including McDonald's and partially KFC, left Russia. To save jobs in this industry, the city will spend 500 million rubles. The money will be used for concessional lending of projects to create domestic fast food chains — to fill the niche that foreign chains are vacating.

Import substitution will affect not only catering. Sobyanin instructed the mining complexes to conclude "long-term contracts for the localization in Moscow of the production of the widest possible range of products necessary for state needs."