Abstract <p>The article is devoted to assessing the direct and indirect effects of sanction pressure on the Russian economy. The direct effects of sanctions pressure is assessed based on studying the effect of sanctions on the consumption level for specific supplied products and consequently on developing resource potential required for import substitution. In order to assess the indirect effects of sanctions pressure it is proposed to use the value of the investment multiplier since the multiplier effect of sanctions that reduce production volumes, as well as the multiplier effect of investments in the formation of resource potential necessary for import substitution occur in a fairly wide range of sectors in the Russian economy. The basis for combining approaches to assessing the impact of sanctions on consumption and the results of the multiplier effect is the interaction of supply and demand in the Russian economy. Data from public records made it possible to assess the direct impact of sanctions with regard to the consumption of specific commodity groups in the Russian economy. In order to assess the indirect impact of sanctions, it was calculated how the production of certain types of goods affected the value of the regional investment multiplier (using the case study of Ryazan oblast).</p>