Within the framework of St. Petersburg International Economic Forum (SPIEF)Russian President Vladimir Putin challenged Western policies by presenting his administration’s economic plans to reduce imports, increase the use of the ruble in foreign trade and, thus, reduce dependence on other currencies, such as the dollar. or the euro.
The head of state insisted on the concept of regional economies. In that sense, he stressed the idea of installing the headquarters of the main companies outside of Moscow (capital). This decision seeks to reduce the lack of labor and diversify the financial markets internally.
“Last year, the share of payments for Russian exports in the so-called ‘toxic’ currencies of hostile states fell by half, while the share of the ruble in export and import transactions is growing; Today it is close to 40 percent, Putin explained about the commercial section.
As part of his speech, another of the projections raised responds to the idea of increasing the proportion of agreements made in currencies of the BRICS countries. Putin declared that the economic bloc (made up of Brazil, Russia, India, China and South Africa) has great potential for the entry of new members.
Likewise, he took the opportunity to announce that Russia is analyzing all scenarios for the special military operation. Incidentally, the moderator of the SPIEF plenary session, Sergei Karaganov, called for more intense actions and stronger nuclear rhetoric.
The recently concluded edition of SPIEF, which was held from June 5 to 8, redefined the role of the Eurasian giant in current geopolitics, as a driving force to create a new multipolar world order.
A total of 21,300 people from 139 countries participated in the 2024 edition of the St. Petersburg International Economic Forum, reported the executive secretary of the organizing committee of the event, Anton Kobiakov.
“21,300 people from 139 countries attended the St. Petersburg International Economic Forum,” Kobiakov told reporters.
The secretary specified that foreign delegations from 95 countries took part in the forum, including 63 heads of diplomatic corps and 48 heads of Foreign Affairs.
“The level of participation and interest in the forum exceeded the level prior to the Covid-19 pandemic. This suggests that international business is recovering regardless,” she noted.
