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Putin Says Russia Should Not Cut Itself Off From Foreign Investment

Russian President Vladimir Putin at the Business Russia forum in Moscow on May 26.

President Vladimir Putin said on May 26 that Russia should not deprive itself of foreign investment and technologies.

Putin told a conference of business people, "We should not, on any account, cut ourselves off" from the kind of foreign investment and technology that can drive economic growth.

After annexing Ukraine's Crimea region in March 2014, the West imposed sanctions on Russia that limited its access to foreign capital and technologies.

The sanctions affected mainly the banking, energy, and defense sectors.

Russia imposed retaliatory sanctions.

Based on reporting by Reuters and Interfax