AceShowbiz - Vladimir Putin has admitted Russia is facing "colossal" technology problems due to the world's biggest entertainment brands ceasing operations in the country. The Russian president, however, insisted it was impossible to cut his nation off from the rest of the world and the West would not push Moscow's development back by "decades."

"Not just restrictions but the almost-complete closure of access to foreign high-tech products is being deliberately, intentionally used against our country," he said when speaking on a video conference with government figures on Monday, July 18. "It is clear that this is a huge challenge for our country, but... we are not going to give up and stay in a state of disarray or, as some of our 'well-wishers' predict, go back decades. Of course not."

Since Russia's invasion of Ukraine started in February, Russia has been hit with sanctions targeting oligarchs, the country's financial bodies and its energy industry. Major technology firms and food chains such as McDonald's have either withdrawn from the country or suspended operations.

Gaming companies including Nintendo, Sony and EA have also vowed not to sell their consoles or content in Russia, while Google has suspended its payment-based services and barred Russian media outlets from selling ads. Apple, Microsoft, Intel, PayPal, IBM, Netflix and Spotify are among other brands that have halted business in Russia or pulled out of the country altogether.

Putin said Russia would now have to develop its own "sovereign" technology and technological firms to combat the shortages. It came as Prince Harry branded the 69-year-old leader's bombardment of Ukraine "horrific" at a speech on Monday at the United Nations General Assembly on Nelson Mandela Day, and listed the invasion among global events that have left him feeling "battered and helpless."