Russian President Vladimir Putin vows to overcome the “colossal” high-tech problems the country is facing due to the onset of unprecedented Western sanctions over Ukraine.
The Kremlin chief says the West had deployed sanctions to cut off Russia from high-tech products to contain the country’s development.
“This is a huge challenge for our country,” he told a meeting.
“Realizing the colossal amount of difficulties we are facing, we will look for new solutions in an energetic and competent manner.”
He says Russia would also use “sovereign” technology and products of innovative domestic companies.
Putin also says that many fast-growing Russian companies such as online retailer Ozon or technology company Yandex have been cut off from Western financing because of the sanctions.
He says Russia must quickly create alternatives so that such companies can attract the necessary financing at home and continue their development.
“I very much look forward to detailed proposals from both the finance ministry and the Bank of Russia,” Putin adds.
Many top tech companies, including Apple, Microsoft and Intel, suspended their operations in Russia, or left the country altogether, after Putin sent troops to Ukraine on February 24, leaving Russia without any domestic alternatives.
It's not (only) about you.
Supporting The Times of Israel isn’t a transaction for an online service, like subscribing to Netflix. The ToI Community is for people like you who care about a common good: ensuring that balanced, responsible coverage of Israel continues to be available to millions across the world, for free.
Sure, we'll remove all ads from your page and you'll unlock access to some excellent Community-only content. But your support gives you something more profound than that: the pride of joining something that really matters.
Join the Times of Israel Community
Join our Community
Already a member? Sign in to stop seeing this
You're a dedicated reader
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we started the Times of Israel ten years ago - to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Thank you,
David Horovitz, Founding Editor of The Times of Israel
Join Our Community
Join Our Community
Already a member? Sign in to stop seeing this
We have a new, improved comments system. To comment, simply register or sign in.