Russian President Vladimir Putin addressed a group of world leaders and business executives at the St. Petersburg International Economic Forum, where he emphasized that Russia’s economy has continued to grow despite international sanctions. He highlighted that Russia has strengthened economic ties with countries in Africa, the Middle East, and Asia while seeking to attract foreign investment. Despite being limited by sanctions due to the conflict in Ukraine, Putin stated that Russia remains an essential player in global trade.
The St. Petersburg International Economic Forum has been a significant platform for Russia to demonstrate its development for many years. However, Western officials and investors have avoided attending the session after sanctions were imposed on Russia, limiting its trade with Western Europe, the U.S., and their allies. The conflict in Ukraine has become crucial to the Kremlin economically as well as politically, providing a significant boost to the economy through state spending on military equipment and volunteer soldiers.
During the forum, Putin took questions from international journalists, including some from Western countries. He warned that if NATO allies supported Ukraine with long-range weapons, Russia could provide similar weapons to others who could target Western territories in retaliation. Additionally, Putin reiterated Moscow’s willingness to use nuclear weapons if it perceived a threat to its sovereignty. Last year, journalists from countries deemed unfriendly by Russia were not invited to attend the forum.
The conflict in Ukraine has had a significant impact on Russian society and its economy. Due to sanctions imposed by Western powers, Russians are experiencing shortages of imported goods, and many global brands have disappeared from stores across the country.
Putin acknowledged that the conflict in Ukraine is one of the main drivers of Russia’s economic growth but maintained tight control over media appearances since it began.
Overall, Putin used this platform to emphasize Russia’s commitment to expanding economic ties with other countries while seeking foreign investment despite ongoing sanctions related to Ukraine.
In conclusion, Putin’s speech at this year’s St. Petersburg International Economic Forum was focused on showcasing how Russia continues to grow economically despite international sanctions related to Ukraine
