Russia can find new economic opportunities due to Western sanctions, Russian President Vladimir Putin said on Friday.
“We continue to experience problems with components, a number of technological solutions have become unavailable to our companies, logistics have been disrupted. But on the other hand, this opens up new opportunities for us,” Putin said at a plenary session of the St. Petersburg International Economic Forum (SPIEF).
Putin added that all these factors serve as incentives to build an economy with great technological, industrial, human and scientific potential and will help Russia to defend its political, economic, and technological sovereignty.
“Sovereignty in the 21st century cannot be partial, fragmentary. All of its elements are equally important. They reinforce and complement each other. Therefore, it is important not only to defend our political sovereignty, national identity, but also to strengthen everything that determines the economic independence of the country, its financial, personnel, technological independence and autonomy,” Putin added.
Putin also said that Russia will strive for leadership in the humanitarian, cultural and sports spheres, while developing its economy with the reliance on the Russian private sector.
The 25th SPIEF was declared open on Wednesday and will run through Saturday.
UNI
