Russian President Vladimir Putin on Monday vowed to overcome the “colossal” high-tech issues his nation is going through due to the onset of unprecedented Western sanctions over Ukraine.
The Kremlin chief mentioned the West had deployed sanctions to lower off Russia from high-tech merchandise so as to comprise the nation’s growth.
He mentioned that Russia would overcome “any difficulties” if it makes excessive tech a serious focus of its growth.
“This is a huge challenge for our country,”
he instructed a gathering on the nation’s strategic growth.
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PUTIN VOWS TO OVERCOME ‘COLOSSAL’ SANCTIONS
“Realising the colossal amount of difficulties we are facing, we will look for new solutions in an energetic and competent manner.”
He mentioned Russia would additionally use “sovereign” know-how and merchandise of home progressive corporations.
Many prime tech corporations together with Apple, Microsoft and Intel suspended their operations in Russia, or left the nation altogether, after Putin despatched troops to Ukraine on 24 February, leaving Russia with none home options.
Putin mentioned that many fast-growing Russian corporations equivalent to on-line retailer Ozon or know-how firm Yandex have been lower off from Western financing due to the sanctions.
He mentioned Russia should shortly create options in order that such corporations can appeal to the required financing at house and proceed their growth.
“I very much look forward to detailed proposals from both the finance ministry and the Bank of Russia,”
Putin added.
Putin has been defiant within the face of Western sanctions, insisting that the Russian financial system will emerge stronger, and pointing to “chaotic measures” in Europe which have boosted world power costs.
But Russia has been closely reliant on imports of every thing from manufacturing tools to client items, and economists imagine the worst results of the sanctions are nonetheless to come.
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Largest ever high quality
At the assembly Putin careworn that main state companies which he mentioned have no idea what to do with “billions of dollars” in collected sources ought to spend money on home high-tech companies.
He additionally used the event to criticise industrial conglomerate Rostec, saying that till now it has demonstrated “modest results”.
“A project to develop the microelectronic industry had to be completely rebooted last year,”
he mentioned, additionally mentioning 5G networks as one other problematic space.
At the identical assembly, Deputy Prime Minister Dmitry Chernyshenko mentioned that the Russian IT sector would overcome the antagonistic penalties of the sanctions in about three to 5 years.
Kirill Dmitriev, head of the Russian Direct Investment Fund, for his half proposed the creation of funds involving state corporations equivalent to oil pipeline monopoly Transneft that would spend money on the high-tech sector.
In 2021, Putin complained of the rising affect of overseas tech corporations, which he mentioned have been competing with sovereign states.
Russia has for months been tightening controls over US-based tech corporations, accusing them of interfering within the nation’s inside affairs and supporting the opposition.
On Monday, a Moscow court docket fined Google 21 billion rubles ($360 million) for failing to take away content material regarding Russia’s navy intervention in Ukraine. It is the most important high quality ever imposed on an IT firm in Russia, specialists mentioned.
© Agence France-Presse