Putin: Russia Cannot Be Isolated from Rest of World

On Monday, Russian President Vladimir Putin said his country cannot be isolated from the rest of the world and that Moscow should focus on developing its own technology and supporting fast-growing companies.

Since sending troops into Ukraine on February 24, Russia has been hit by a barrage of Western sanctions, designed to cut it off from the global economy, denying it access to goods including commercial electronics, semiconductors, and aircraft 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.

“Clearly, we cannot develop in isolation from the rest of the world, but we won’t. In today’s world, you can’t just, you know, circle everything with a compass and put up a huge fence, it’s just not possible,” the Russian president added.

Putin noted that Moscow would have to develop its own domestic technology and technology firms.

Russian Finance Minister Anton Siluanov pointed out that supporting the Russian technology sector was a priority, but that every ruble of state support should be accompanied by at least three rubles of private investment.