Putin Admits Russia's Tech Industry Suffers 'Colossal' Problems

Russian dictator Vladimir Putin has told officials during a video conference on strategic development goals that Russia is facing "colossal problems" in the high-tech sector due to international sanctions, but that Russia will not allow its economy to regress and will seek domestic solutions.

Photo Insert: Despite the admission, Putin reassured that Russia will not allow its economy to regress and will seek domestic solutions.

The Yermak-McFaul Expert Group on Russian Sanctions has encouraged the European Union (EU) to blacklist the top 30 Russian banks, including Gazprombank, while maintaining a separate mechanism for gas payments.

The European Council has approved the deployment of an additional 500 million euros from the European Peace Fund for military assistance to Ukraine, European Council President Charles Michel stated on Twitter on July 18.

Azerbaijan will provide at least 20 billion cubic meters of gas to the European Union. Monday in Baku, European Commission President Ursula von der Leyen and Azerbaijani President Ilham Aliyev signed an agreement to increase Azeri natural gas production to at least 20 billion cubic meters (bcm) per year within 15 years, doubling the current supply through the Southern Gas Corridor and decreasing the EU's reliance on Russian energy.

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