The Kremlin's increasingly tight grip on the Internet in Russia will come with a hefty price tag. A law that goes into effect on Sept. 1 requiring foreign Internet companies to store the personal data of their Russian users within the country's borders will cost the country's economy a once-off $5.7 billion, and further knock-on effects as industries which rely on global data flows suffer, a report published this week said.
Wall Street Journal: Russia’s data law will hurt its economy – think tank
Russia's President Vladimir Putin delivers a speech as he attends a ceremony of receiving diplomatic credentials from foreign ambassadors at the Kremlin in Moscow on May 28.
