Russian Davos adjusts to the new reality, hackers crash the internet

• As Russia adjusts to the “new reality” of living under Western sanctions, hackers delayed the start of President Vladimir Putin’s speech 
• At the 25th St. Petersburg International Economic Forum, which seeks to compete with the Davos World Economic Forum, 
• However, there were noticeably fewer Western investors and investment bankers than in previous years.

As Russia adjusts to the “new reality” of living under Western sanctions, hackers on Friday delayed the start of President Vladimir Putin’s speech to Russia’s premier economic gathering.

At the 25th St. Petersburg International Economic Forum, which seeks to compete with the Davos World Economic Forum, state corporations made a point of publicly signing deals, and many businesses had kiosks with floor to ceiling display screens and attractive attendants.

However, there were noticeably fewer Western investors and investment bankers than in previous years.

At a session headlined “Western investors in Russia: new realities,” Italian businessman Vincenzo Trani told Reuters that “new business from the Italian side is just stopped.””New investments are simply not possible.”

Dmitry Peskov, a spokesman for the Kremlin, claimed that a denial of service assault, which overloads servers with erroneous traffic, had hit the forum’s admission and accreditation systems. The situation in Ukraine loomed huge despite his lack of assigning blame.

On February 24, as Russian troops entered Ukraine, Kyiv requested assistance from “hacktivists.” The so-called “distributed denial of service,” a fundamental type of online disruption that has been frequently employed by both sides in the Russia-Ukraine war, received no apparent response from Ukraine.

At the forum, internet access and speeds were poor. Putin’s speech, in which he claimed the West was attempting to overthrow his nation with an economic “blitzkrieg,” was also delayed by about 100 minutes.

Russian export-import dynamics have been dramatically altered as a result of Western sanctions against Russia over its actions in Ukraine and related supply chain issues, with the nation now pivoting away from the West and toward nations like China and India.

A Russian oil embargo has been promised by the European Union, key banks have lost access to the global payments system SWIFT, Western brands are fleeing the nation and selling quickly, wiping out billions of dollars’ worth of assets.

Dmitry Chernyshenko, Russia’s deputy prime minister, bemoaned the country’s technological laggardism and declared that it was currently undergoing the “painful process” of converting to its own technology.

He addressed a group of Russian businesspeople, “You are battling with multinational firms that have outpaced you by whole generations.” representatives.

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