© Sergey Bobylev/TASS

The 23rd St. Petersburg International Economic Forum (SPIEF-2023) was held in Russia’s northern capital on June 14 to 17, and its main theme was “Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations.” We emphasize that the forum remains a unique international venue for the world of economics and business. In total, SPIEF-2023 featured over 140 events in various formats: plenary and panel sessions, round tables, discussions and business breakfasts. The agenda embraced de-dollarization, global digital future, artificial intelligence, comprehensive development of the Arctic, Russia's relationship with China, India, other Asian countries, the Middle East and Latin America.

Despite the growing face-off between Russia and the US-led West, the forum keeps gathering guests across the globe and being referred to by global media as the "Russian Davos", and it has always been the case. Thus, over 17 thousand delegates from 130 countries took part in SPIEF-2023, demonstrating the Western countries’ failed plans to isolate Russia. Notably, it was for the first time in history that the St. Petersburg Forum featured no reporters from countries unfriendly to Russia, primarily the USA, Canada, Great Britain, Japan, and EU member states.

As tradition demands, SPIEF has chosen its guest country. Last year it was Egypt, and this time the United Arab Emirates (UAE), whose delegation led by the country's President Mohammed Al Nahyan became one of the most numerous. Other high-ranking foreign participants comprised Presidents of Algeria and Armenia Abdelmadjid Tebboune and Vahagn Khachaturyan, Prime Minister of Cuba Manuel Marrero Cruz, Chairman of the Cabinet of Ministers of Kyrgyzstan Aqylbek Japarov, Secretary General of the Shanghai Cooperation Organization (SCO) Zhang Ming, Hungarian Foreign Minister Peter Szijjarto and others.

Speaking about SPIEF-2023, I would especially like to mention Vladimir Putin's plenary session speech of June 16, who naturally devoted most of it to Russia’s economic development. According to the president, the growth of Russian GDP this year will be about two percent. "I agree with our analysts who argued that the Russian economy would achieve an even higher growth rate of about 1.5 percent, or maybe even 2 percent. This will enable our country to retain its place among the world’s leading economies," the Russian leader said. The key strategic task is not just to compensate for the GDP decline or replace foreign businesses, but to prepare for an irreversible, profound transformation of global economy, Putin stated.

Domestic business is not closed in on itself, but actively develops into international arena. "One of the principles is our commitment to an open economy. Despite all the challenges we faced last year, we did not go down the road of self-isolation. On the contrary, we expanded our contacts with reliable and responsible partners," Putin stressed. The leaders of Russia’s new partners refuse to give in to coarse outside pressure, he went on to say, presumably referring to that coming from Western countries, primarily the United States.

Also, Russia "will continue infrastructure construction and upgrades," with special focus on the North-South Transport Corridor, with plans to triple export freight volumes by 2030. And the Northern Sea Route used to carry 34 million tons of freight last year, is expected to show a multiple increase in 2024. Apart from that, the country’s government and Russian Railways succeeded in quicky scaling up container outflows from Asia via the Far East. In addition, we need to help our e-trade platforms enter the markets of China, India, and Turkey, Putin pointed out.

After his speech, the President answered questions by political analyst Dmitry Simes, the plenary session moderator. As regards the Ukraine crisis, Vladimir Putin said: "The war in Ukraine, in its southeastern parts, was started by the Kiev regime with the support of its Western sponsors in 2014. People try to avoid this subject in the West. But I have to say that aviation, tanks and artillery were used in the northwest against Donbass. What was that if not a war? It is a war. And it has been going almost for nine years now. Then our so-called partners, our counter-partners publicly refused to settle the conflict peacefully. This forced us to use our Armed Forces in an attempt to put an end to this conflict." Dwelling upon the Nazi Kiev regime’s fighting chance, Putin said that the Armed Forces of Ukraine are already using strategic reserves, but they have not reached their goals anywhere. "Indeed, they have sustained very heavy losses – even more than one to ten compared to the Russian army. As of today, the Ukrainian army has lost about 186 tanks and 418 armored vehicles of different types." They have no chances, the head of state added.

Vladimir Putin believes NATO countries have long been engaged in the conflict. So far, he said, there are only Western tanks and armored vehicles burning on the battlefield, but if third countries get directly involved, Russia will provide a relevant and adequate response. However, Russia neither falls for provocations nor is going to "push the buttons" — the head of state stressed that he loathes using tactical nuclear weapons in Ukraine. The key reason for such a performance by Moscow is AFU failures at all the fronts. But if necessary, Russia will be ready to take more decisive action. In case the attacks against our country do not stop, we will consider the creation of a "buffer zone" in Ukraine. The nuclear option is only possible “in case of a threat to the Russian state. In this case, we will certainly use all the forces and means at the disposal," Putin said.

According to Dmitry Simes, nothing irritates the Western elites more than Moscow's talk about Nazis among the Ukrainian leadership. In this regard, he asked how the Russian leader feels about the remarks that the president of Ukraine is a Jew. To which Vladimir Putin replied: "Zelensky is not a Jew but a disgrace to the Jewish people. This is not a joke or irony. After all, neo-Nazis, followers of Hitler, have been raised on pedestals as today’s heroes in Ukraine." Therefore, denazification of Ukraine is one of the key tasks, the President of Russia stressed.

Next, the moderator touched upon discounts for Russian energy on world markets, as believed in the West, primarily the United States. Putin pointed to counterproductivity of any restrictions in this area: "First, we have different concessions for different markets. This is the first point. In some cases, these concessions are minimal. Overall, we are fully satisfied with the current pricing situation. Production is on the rise; sales volumes are considerable." All the decisions within OPEC Plus on reducing production and other issues are first and foremost depoliticized — they are only based on economic feasibility and not affected by Russia’s special military operation in Ukraine.

According to Vladimir Putin, the West itself has driven the situation to an inflation spike by pouring money into its economy, and now it is trying to make a scapegoat out of Russia. The President added that the West benefits from the ongoing Ukraine conflict to cover up their own mistakes, noting the lack of contact between Russian and American officials. "If there is any desire to maintain a dialogue with us — welcome," the head of state added, saying that Moscow has not waived dialogue with Washington. According to Putin, "with a different administration [in the United States], we could have achieved a peaceful settlement plan."

In conclusion, Dmitry Simes asked: "Wat main lesson would you like President Biden to draw from what you have said today in this audience and, more broadly, regarding Russia’s foreign policy?", to which the Russian leader replied: " It is not my place to teach him. Let him do what he thinks necessary, and we will do what we think is in the interests of the Russian Federation and the people of Russia. And everybody will have to take this into account."