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Putin praises Elon Musk as a ‘real genius’ as Russia develops Starlink alternative

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Core Development: Putin praises Elon Musk as a ‘real genius’ as Russia develops Starlink alternative
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Market & Financial Impact: Russia is trying to develop is own version of the satellite constellation Starlink: Rassvet.
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Russian President Vladimir Putin has called SpaceX CEO Elon Musk a "genius," as he revealed the two are in "close contact" about developing a Russian alternative to Starlink.

"Elon Musk is a genius, truly a genius," Putin said at the Russia-Africa Summit in Moscow on Wednesday. "He has already had more than 5,000 such satellites in orbit, while we are only taking the first steps," he said at an event where he discussed Russia's own satellite connectivity project, Rassvet.

Rassvet is a satellite internet constellation in low Earth orbit, built by the Russian private aerospace company Bureau 1440.

"We are proud that we have begun doing this and that we have started doing it independently," Putin said according to a translation. "We are in close contact with our U.S. partners, including Mr Musk."

"In orbit, it is very important not to interfere with one another and to adhere to certain rules, discipline, and order. Both we and our U.S. partners value this mutual understanding. Together with Mr. Musk, despite all the political issues, we continue to work closely."

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Official Publisher Attribution: This report is aggregated from CNBC. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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