Putin gives FSB 2 weeks to get Internet encryption keys

From what I understand this is a provision where companies and services who use encryption in Russia are required to provide the keys to unencrypt the data to the Russian government or else face fines and other penalties. This seems like a very vague and far-reaching provision. I would imagine this would heavily interfere with 99% of respectable companies who use HTTPS nowadays. And what about all of the storage and messaging services which encrypt data? Would they have to make special provisions for their Russian customers so that the Russian government could have access to the data of those users, while not being able to interfere with the rest of their customer base and data?

I imagine they'll back down from this if Google just says no, finishes closing their Moscow office and tells Russia to go ahead and block them. No way the big cos want to set the precedent and hand out keys to 200 governments.

Just a note, the title is less "lol series of tubes" in Russian. One of those times when using more articles and possessive pronouns would have served Russian well at least for machine translation.

As a result of a recent security audit, the Internet encryption key has been changed from 12345 to 1234567890. We apologize for any inconvenience.