We must stop using the primitive raw materials-based economy and move to an innovative path of development.

Analysis

The statement aligns with Medvedev's public remarks at the 2010 St. Petersburg International Economic Forum, where he emphasized modernization and reducing dependence on raw material exports. Official transcripts and media reports confirm this position. The call for innovation was a central theme of his presidency (2008–2012).

Background

During his presidency, Medvedev launched the 'Modernization of Russia' initiative, aiming to diversify the economy by investing in technology and education. Russia's heavy reliance on oil and gas exports was a key concern, and this speech reflected that policy priority.

Verdict summary

Medvedev did advocate for shifting Russia's economy from raw materials to innovation in his 2010 SPIEF speech.

Sources consulted