The chemical industry is a core branch of Russian manufacturing and makes a significant contribution to the national economy in terms of jobs, products supplied, and exports. The output of the chemical industry is used in nearly every area of the Russian economy and plays an important role in shaping innovation at every stage of its development. The growth of high-value-added production in the petrochemical and chemical sectors is providing a powerful boost to the development of related branches of Russian industry, such as light manufacturing, medicines and pharmaceuticals, aviation, shipbuilding and engineering, perfume and cosmetics, and many more. The main challenge for the chemical industry over the next six years is to increase the competitiveness of Russian output on both domestic and external markets. What strategy will achieve strong performance in the development of the Russian chemical industry? What support measures does the petrochemicals sector require? What raw material resource base can the Russian petrochemicals industry draw on and to what extent do domestic hydrocarbons undergo further processing? What are the current trends in the digitalization of the Russian chemical industry? Chemicals and the environment myth or reality?