Russia cannot be cut off from the rest of the world, according to Russian President Vladimir Putin, who also asserted that sanctions imposed by Western nations won’t reverse Russia’s progress.
Since sending soldiers into Ukraine on February 24, Russia has been subjected to a torrent of Western sanctions meant to cut it off from the rest of the world’s economy. These sanctions have prevented Russia from accessing products including semiconductors, commercial electronics, and aviation parts.
“Not just restrictions but the almost-complete closure of access to foreign hi-tech products is being deliberately, intentionally used against our country,” Putin said, speaking to a video-conference with government figures.
“It is clear that this is a huge challenge for our country, but … we are not going to give up and stay in a state of disarray or, as some of our ‘well-wishers’ predict, go back decades. Of course not,” he said.
According to Putin, Russia must create its own domestic technology and technological companies.
Support for the Russian technological sector, according to Finance Minister Anton Siluanov, is a top priority, but every rouble of public assistance needs to be matched by at least three roubles of private investment.