Vladimir Putin Is Tired Of Relying On U.S. Technology

Russia's President Vladimir Putin is fed up with the rampant use of American technology within the government.

According to a Bloomberg report, Putin is urging authorities across the country to reduce their dependence on U.S. technology given the current geopolitical tension. The Russian leader cited concerns over security and reliability, especially after American companies shut down paid services in Crimea after Russia annexed the region in 2014.

Related Link: Will Presidential Debates Move The Stock Market?

American companies also ceased to issue software updates to Russian companies that have been sanctioned by the U.S. government.

First on Putin's list is wiping out Microsoft Corporation (NASDAQ: MSFT)'s programs on thousands of computers to be replaced with Russian-made software.

Moscow's city hall will replace Microsoft's Exchange Server and Outlook with a Russian-made e-mail system called MyOffice Mail. The ultimate end goal could be fully replacing Windows and Office in the future.

The government facility is also considering installing new cloud-based software from a Russian company New Cloud Technologies.

Putin's move could be notable given the fact that Russia's government entities spend a combined $295 million a year on foreign software.

Other international companies that may also see their products replaced in favor of their Russian peers include Oracle Corporation (NYSE: ORCL) and Germany-based SAP SE (ADR) (NYSE: SAP).

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!