The fallout from Russia’s invasion of Ukraine has isolated the country from large parts of the global economy. Financial sanctions mean that international markets have effectively closed to Russian tech companies, and freelancers working for overseas clients are struggling to get paid. Major global tech companies, including Apple and Microsoft, have suspended their operations in Russia, and others have ended their relationships with local companies, leaving employees and contractors to an uncertain future. Meanwhile, the government is tightening its control over the internet and clamping down on opponents.
The IT industry comprises less than 1% of Russia’s GDP, according to 2021 research from the Higher School of Economics University. However, entrepreneurs are often drivers of the economy, and the economy will, eventually, feel their absence.
Many Russians in their 20s and 30s grew up in an environment where the internet was relatively free. But the climate has become much more restrictive since the war began. Russia blocked access to Facebook last week and has throttled Twitter.
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