According to Putin, the rupture with the West has made it possible for Russia to develop its economy.
President Vladimir Putin stated on Friday that Russia must take advantage of the sanctions’ prospects and use the dearth of Western products to strengthen its industrial and technological foundation.
Speaking at the St. Petersburg International Economic Forum, the president declared that while import substitution is not a “panacea” for the economic problems facing the country, “Russia must be one step ahead.”
“We still have issues with components, our businesses can no longer use a variety of technological solutions, and logistics have been messed up. On the other hand, all of this presents us with fresh opportunities,” remarked Vladimir Putin.
He continued by saying that the circumstance offers compelling motivation to create an economy that realizes its full technological, industrial, human, and scientific potential.