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SPIEF Day Two: Highlights

The second day of the St. Petersburg International Economic Forum began on Friday, with Russian President Vladimir Putin and his European counterparts holding core stage.

These were the main takeaways from the day.

1. Russia Will Turn to Eurasia Whether the EU (Or Eurasia) Likes it or Not

Russian President Vladimir Putin and Deputy Prime Minister Igor Shuvalov both discussed the creation of a new Eurasian mercantile partnership underneath the leadership of Russia and China.

If the European Union and Russia destroy to make justification over sanctions, this new kinship would be a ready-made alternative, argued Shuvalov. The Deputy Prime Minister pronounced Russia approaching World Trade Organization subsidy for the scheme.

Of the ongoing sanctions, Russian Minister of Agriculture Alexander Tkachyov had this to say: “EU leaders are still underneath the illusion that we can't feed ourselves.”

2. Putin Thinks Ukraine is a “Russian Affair”

When asked about Ukraine during the QA apportionment of the full session, Putin pronounced that revolutions upheld by the West usually resulted usually in chaos, citing the Maidan protests and the Arab Spring.

“Why did they have to support the coup in Ukraine?” he asked, suggesting that domestic change would approaching have come about but violence.

“We’re not criticizing anyone,” he said. “But we need the United States to stop interfering with the affairs.”

3. Russia Won’t Budge on Counter-Sanctions

In his residence at today’s full session, Vladimir Putin pronounced that Russia “held no grudges” opposite the EU. At the same time, a love-in was not forthcoming. Making justification between the two could not be a “one-way street,” he said.

Putin had some recommendation for his European counterparts. European businesses are “chomping at the bit” to do business in Russia again, he said.

4. Russia is Confused About the Future of Oil and Gas

The head appetite firm Ronova, Viktor Vekselberg, pronounced currently that Russia has typically unsuccessful to adapt to changes in the appetite sector. He warned Russia about “stepping on the rake” again by focusing usually on oil and gas and ignoring choice energies.

The question of diversifying Russian economy is not a new one. Some 53.3 percent of respondents in a event at SPIEF currently pronounced changeable divided from gas and oil was Russia’s series one economy priority.

Even so, Russian oil giants Rosneft and Gazprom done several vast deals with unfamiliar companies today, demonstrating their continued significance to the economy.

5. Juncker’s Presence Does Not Mean The EU Has Forgiven Russia

Despite a controversial coming by EU General Secretary Jean Claude Juncker at the forum, the EU will not make any poignant change in its position on sanctions.

The EU announced currently that it will extend sanctions opposite Crimea for another year, measures the Kremlin has regularly asserted are counterproductive.

News is approaching on the some-more significant, sector-specific sanctions levied on Russia before the end of the month. With several crises in the EU looming, including Brexit and Greek debt, few expect good news for Mr. Putin.

Article source: http://www.themoscowtimes.com/article/572881.html