Meanwhile, the Kremlin has responded to heavy international sanctions with another new law that allows patent theft from any company affiliated with a country deemed hostile to Russia.
Russian software companies are reportedly seeing a big increase in demand as bigger players leave the market. But as the value of Russian currency implodes, such companies will become even more dependent on the government. Take, for example, the plight of Russian social media network VK, the most popular social platform in the country. The company announced on Tuesday that it may not be able to repay bond holders outside of the country.
Companies, founders, and investors who refuse to denounce Russia’s invasion will see their fates linked to those of Putin, Moscow-born venture capitalist Semen Dukach said. Dukach, who has publicly stated his opposition to Moscow’s war, says that his business interests lie outside of the country. Defense One reached him by phone in Poland, where he was helping with relief efforts for Ukrainian refugees.