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April 18th, 2007
Russia to invest over US$1 billion in nanotechnology in next three years
Russia will pour over US$1 billion (€740 million) in the next three years into equipment for nanotechnology research as it uses massive oil and gas export earnings to seek to diversify an economy now heavily dependent on raw materials, First Deputy Prime Minister Sergei Ivanov said Wednesday.
"(Nanotechnology) is a very promising scientific and technical field, capable of fundamentally changing the model of the Russian economy ... from a fuel economy to an economy of the future," Ivanov said after a meeting Wednesday at the Kurchatov nuclear and scientific research institute, which was attended by President Vladimir Putin.
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