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Russia Announces Billion-Dollar Investment in Nanotechnology

The Russian government plans to take its export revenues from oil and gas sales and invest it in nanotechnology research and development. During the next three years, Russia will invest more than $1 billion in nanotechnology so that it can become less dependent on raw materials, noted First Deputy Prime Minister Sergei Ivanov. Mr. Ivanov will lead the Russian government’s nanotechnology investment plans, and is also considered a potential candidate to replace President Vladimir Putin next year. The majority of the nanoscale developments will be for consumer applications, with a smaller share for defense purposes.

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