Private investment is needed to boost Russia's space industry, Russian President Vladimir Putin has said. His comments come as a lawmaker in Russia floated the idea of offering political asylum to Elon Musk , the CEO of SpaceX .

Dmitry Novikov, from Russia's international affairs committee, suggested Musk could be given asylum in Russia, following his public fallout with President Donald Trump , although there has been no confirmation of any formal offer being made.

Putin asked the head of Russia's space agency Roscosmos, Dmitry Bakanov, about how to attract financial backers because of the need "to commercialize services."

Newsweek has contacted Roscosmos for comment.

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As part of its space strategy, Russia is looking to create its equivalent of the satellite sy

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