The article is devoted to the analysis of the complex political and economic direction of the development of the European Union - strategic autonomy. The focus of this study is on the strategic autonomy of the EU in the economy. The origin and evolution of the concept of open strategic autonomy in the economic sector, enshrined in the official documents of the European integration association, are considered. The transformation and expansion of the substantive direction of the concept is traced – starting from the first lists of critical raw materials for the development of the economy and up to strategic high-tech manufacturing industries designed to become the basis for future sustainable and dynamic economic growth and ensure the international competitiveness of the entire economic complex of the EU. A set of measures has been studied and systematized, including European long-term strategic projects (with the participation of the European Union as a supranational institution, its member states and individual companies), which are implemented as part of the concept of strategic autonomy. An attempt has been made to assess the prospects for the possible implementation of this set of measures. It is shown that the full implementation of all the provisions of the strategic autonomy in the economy is not possible, especially given the wide scope of the stated goals and objectives. In a favorable scenario the European Union will probably be able to maintain and consolidate its position in terms of resource-saving technologies, including their green aspect. At the same time, the implementation of strategic autonomy in the field of raw materials is likely to be less successful. The probable consequences of the partial implementation of the concept of an open strategic autonomy in the economy for Russia are formulated. As a result of the conducted research, it was concluded that the main problem for Russia is the further exclusion of our country from existing and potential European value chains, primarily from high-tech industries that are especially important for the economy of the future.