Russian Official: Globalist Policies Have Failed, SPIEF Shows Shift to Partnership

ST. PETERSBURG, June 3. /TASS/. The lineup of participants at the St. Petersburg International Economic Forum demonstrates that globalist policies have completely failed, Russian presidential special representative for investment and economic cooperation with foreign countries and CEO of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"Today, the St. Petersburg International Economic Forum begins. It is one of the world’s most important events, with representatives from more than 130 countries expected to attend. It is taking place at a very important moment, when globalist policies have completely failed. The forum brings together sovereign countries that are ready to move forward on the basis of partnership toward developing their economies and pursuing constructive economic action. This is what distinguishes the St. Petersburg International Economic Forum from globalist forums such as Davos and others, which have demonstrated their ineffectiveness and failure in the ideology they promote," Dmitriev said.

The RDIF chief noted that Global South countries are increasing their economic power, actively moving toward partnership with Russia, and will be widely represented at the forum.

"But we also see that there will be many representatives from Europe. And what is happening in Europe is that Europe is finally realizing that the economic crisis and energy crisis unfolding there are the result of abandoning Russian energy supplies. Russian energy accounted for 55% of all gas supplies to Germany. And now Germany is effectively undergoing complete deindustrialization, with enterprises shutting down. Chancellor [Friedrich] Merz has the lowest approval ratings in the history of German chancellors. Therefore, Germany and other European countries will be represented at the forum, including members of the Alternative for Germany party, which advocates a much more pragmatic approach toward Russia," he said.

The St. Petersburg International Economic Forum (SPIEF) held on June 3-6 and is the 29th edition. This year, the event will be held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.