Russia Pours Billions in Oil Profits Into Nanotech Race

Back in the mid-1980s, a joke made the rounds that the Kremlin was preparing a major announcement: After a decade-long top-secret crash program, socialist science had succeeded in building the world’s largest microprocessor.

That was then. After sleeping through the high tech revolutions of the late 20th century, the Russian government is dumping billions into the burgeoning science of nanotechnology. The Kremlin last June announced the creation of Rosnanotekh, a state nanotechnology corporation slated for $5 billion in initial funding — an outlay that propels Russia past China in nanotech spending, and puts the country on a par with the United States in government-funded nano research.

Russia shooting for another technological “surprise” like Sputnik? (Remeber though, the ChiComs are lurking out there too.)