During a recent Kremlin briefing, President Vladimir Putin responded to concerns voiced by Iva Technologies' CEO about Russian IT firms losing revenue due to competition from American companies like Microsoft and Zoom. As these firms have withdrawn from the Russian market following sanctions, Putin suggested that Russia should develop its own technology solutions and "reciprocate" against foreign competitors. He expressed grievances about Western nations, framing past events such as the 2014 Ukraine crisis as part of a broader attempt to undermine Russia's economic interests.
They are trying to strangle us - we must reciprocate.
We provided the most favorable working conditions in our market and now they are trying to strangle us.
The challenges we have faced in the past few years stem from international responses to our foreign policies.
Russia's business community has lost billions due to competition from Western tech companies that have scaled back operations in our market.
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