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During a meeting with Government members one day earlier, the President gave instructions to prepare a meeting that would involve directors of leading defence industry companies to discuss the possibility of replacing spare parts imported from Ukraine.

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Address at the meeting on economic issues

President of Russia Vladimir Putin: Good afternoon, colleagues.

Yesterday at the meeting with Government members, we considered ways to resolve the problems that may arise if Ukraine fails to deliver certain products for the defence industry. We need to know how real the threat is and, if it does occur, how quickly and at which Russian facilities we can launch our own production, and at what cost.

I have no doubt that we will do it; the question is about the timeframe and cost. I will say straight away that if this does happen, we will have to adjust the state defence order. However, I am certain that these are all tactical issues. Most likely this will ultimately only benefit the Russian industry and economy. We will invest in the development of our own production.

I have brought together a specific group: Government members who are responsible for this sector, chief designers, directors of production facilities and representatives of the Defence Ministry.

Let us begin.

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