Business Insider: Russia will be using second-grade tech for years and spending ‘huge resources’ to recreate what already exists, says a former top Russian finance official

Business Insider: Russia will be using second-grade tech for years and spending ‘huge resources’ to recreate what already exists, says a former top Russian finance official. “Russia could be in for years of decline in technology development due to sweeping sanctions over the Ukraine war, Oleg Vyugin, a former high-level finance ministry and central bank official, told Reuters in an interview on Tuesday. That’s because when it comes to tech, Russia relies on imports, and imports have been hit by sanctions and boycotts. As a result, the country will have to develop its own products to substitute those imports.”