Russia is losing its top tech talent as workers flee the country in response to its invasion of Ukraine.
In the modern economy, knowledge workers are one of the most valuable commodities. Unfortunately for Russia, the country’s tech workers are leaving over its invasion of Ukraine, according to The New York Times, adding to its woes.
The international community has been mostly united in its condemnation of Russia’s actions. Governments around the world have imposed strict sanctions, while companies have ceased operations and pulled out of Russia. The situation has become so dire it’s believed the country may be running out of digital storage.
As if external issues weren’t enough, it’s now estimated some 50,000 to 70,000 tech workers have left the country, with an additional 70,000 to 100,000 soon to follow.
“Most Russian tech workers are part of the global market. Either they work for global companies or they are tech entrepreneurs trying to build new companies for the global market,” said Konstantin Siniushin, a venture capitalist in Riga, Latvia. “So they are leaving the country.”
Many experts believe it will take Russia years to recover from the sanction it is experiencing. That estimate is likely to increase the more highly skilled workers it loses.