Russian President Vladimir Putin attends the plenary session of the First Eurasian Economic Forum in Bishkek, via video link from Moscow, Russia, on May 26, 2022.LONDON — President Vladimir Putin said on Thursday that he was glad some foreign companies had left Russia because home-grown businesses could take their place, and he warned the West that Moscow would still find ways to acquire advanced technology and luxury goods.
Since the war, a host of major foreign investors — ranging from BP to McDonald's — have exited just as the Russian economy faces its worst contraction since the years following the turmoil of the Soviet collapse. He did not elaborate on how Russia would find ways to maintain access to western components and software.
"Representatives of our businesses face problems, of course, especially in the field of supply chains and transport. But nevertheless, everything can be adjusted, everything can be built in a new way," Putin said.In any case, we are definitely acquiring new competencies, we are starting to concentrate our economic, financial and administrative resources on breakthrough areas."
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