Putin Feels the Pressure of Sanctions, Restructures Russia's Economy

Written by Kathrine Frich

Aug.27 - 2024 11:22 AM CET

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Photo: Wikimedia Commons
Photo: Wikimedia Commons
"Without reaching these goals, we cannot win the special military operation."

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President Vladimir Putin is restructuring the country's economy.

Cannot Win Without Changes

According to URA this was brought up during a video conference on August 26, where Putin discussed key economic policies aimed at driving the nation toward technological independence by 2030.

Political analyst Sergey Polyakov, director of the Electoral Practices Center, commented on the significance of this meeting. He emphasized that the newly proposed national projects are crucial for achieving technological sovereignty.

"Without reaching these goals, we cannot win the special military operation," Polyakov stated, underscoring the necessity for self-reliance in critical technologies.

Response to Increasing Sanctions

The focus on technological independence comes in response to increasing sanctions from the United States and the European Union, which have heightened tensions between Russia and the West.

According to Polyakov, Putin is laying the groundwork for Russia to become a technologically advanced nation capable of producing vital technologies without relying on foreign powers.

In his opening remarks, Putin emphasized the urgency of accelerating work on these national projects.

"In the modern world, achieving national sovereignty is unattainable without technological advancements," he noted.

With Russia being the largest country in terms of land area but having a relatively small population, Polyakov argued that achieving technological sovereignty is essential for Russia to withstand the pressures of global resource competition.

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