![]() "These are objective processes, really revolutionary, tectonic changes in geopolitics, the global economy, in the technological sphere, in the entire system of international relations, with the role of dynamic, promising states and regions going up significantly. "It is wrong to think that one can, so to say, wait it out during the time of turbulent changes, that everything will be back to normal and will be as it used to be. The world will never be the same again and it is impossible to "wait it out" during the current turbulent changes in the world, Putin told the audience – sentiment also expressed the day before by the leaders of Russia’s economics team.Īddressing the plenary session of SPIEF, the Russian leader said that the world is living through "fundamental, watershed and inexorable" changes. Putin co-hosted the first Russia-African Summit with el-Sisi in November 2019 and that country remains very dependent on Russian grain and energy exports.īut Putin was pragmatic and admitted that Russia has been wounded by the sanctions and that life will get more difficult for the average Russian, but he spent half his speech blaming the problems on the West and the other half rousing nationalist sentiment to rally the population to his flag. Egyptian President Abdel Fattah el-Sisi also attended the session, as Cairo is becoming one of Moscow’s closest allies in North Africa. Putin shared the stage with Kazakh President Kassym-Jomart Tokayev, who also gave a speech, while Chinese President Xi Jinping also participated in the session, backing Russia and calling for an end to the sanctions regime.Īnd in a new direction, Russia is pushing hard for closer relations with Africa since it has been locked out of Western markets. The event also has an international dimension, where Moscow called on its friends to show solidary with Russia and publicly attend the forum. SPIEF is Russia’s premier investment showcase, dubbed “the Russian Davos”, but this year it has been a muted affair, with few Western companies making the pilgrimage to the northern capital to hobnob with Russia’s elite.īut with all eyes on Russia as it wages its destructive war in Ukraine, Putin used the event to justify his war to the Russian people and shore up support as sanctions start to make visible cuts into the standards of living. He went on to appeal to Russian’s strong sense of national pride and assured the audience that “Russia is a strong country and we will prevail.” Putin lashed out at the West during his keynote speech at St Petersburg International Economic Forum (SPIEF) on June 17, claiming that it was using Russia as a scapegoat to excuse its failure to control inflation.
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