The report "Russia and the World: 2023" is the twenty first in a series of annual publications of IMEMO RAS and PSIF. The report consists of three parts: global trends, economy and foreign policy. The main focus is on issues of key importance for ensuring stable economic and political development of Russia in the immediate (2023) and longer term. The report is based on decades long IMEMO experience in forecast research. The main external challenges for Russia and options to respond them are analyzed.