From June 15 to 18, the St. Petersburg International Economic Forum is held. In the absence of Western figures usually present at this “Russian Davos”, the speech of Russian President Vladimir Putin was closely scrutinized at a time when his country is hit by major international economic sanctions.
His speech was eagerly awaited. While the leaders of the world’s major economic powers are exceptionally absent from the St. Petersburg International Economic Forum due to the conflict in Ukraine, Russian President Vladimir Putin spoke an hour later than expected due to a cyberattack that delayed his speech.
In the preamble, as France24 reports, the Russian President mentioned the special operation in Ukraine, describing his decision as “difficult to take but inevitable” and assuring that “all objectives will be achieved”.
Russian economic sovereignty
Vladimir Poutine especially reconsidered the economic sanctions which were launched against his country. According to him, the latter are “reckless” and “are a double-edged sword”.
“Those who launch them are also victims,” he said according to a translation by BFMTV, referring to the significant inflation currently affecting many Western countries. “Global losses from these sanctions could exceed $400 billion this year. Inflation has exceeded 20% in some regions.”
Vladimir believes that these sanctions were based on “a false prognosis” according to which Russia would not have “economic sovereignty.”
“It is kyiv that blocks the wheat”
“Russia will continue to seek partners among those who want to continue working with Moscow. These partners represent the majority of countries in the world,” he continued, referring in particular to exports “in Africa”.
“Countries that want to work with us are under pressure from outside. But nations led by a great leader don’t care,” he said.
Finally, with regard to the world food crisis which threatens due to the difficulties of Ukrainian grain exports, Vladimir Putin has rejected all responsibility. “kyiv is blocking wheat. We are not preventing Ukrainian exports.”