Thursday, 7 July, 2022

Nearly $100bn worth of deals signed at SPIEF 2022

Nearly $100bn worth of deals signed at SPIEF 2022

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The 25th St. Petersburg International Economic Forum (SPIEF 2022), held from June 15 to 18 in Russia, resulted in 5.6 trillion rubles ($97 billion) worth of agreements, which is 30% more than last year (3.8 trillion rubles).

Over 690 deals were signed during the four-day event. Despite the tense political situation regarding Russia’s military operation in Ukraine, officials and businessmen from more than 130 countries took part in the forum this year, including representatives from all ‘unfriendly states’ that have imposed sanctions on Russia, reports RT.

The forum’s business program included 214 events and focused on Russian and global economic and social issues, and technology. The presidents of Egypt, China, and Kazakhstan took part in a plenary session of the forum along with Russian President Vladimir Putin.

According to Anton Kobyakov, a Putin adviser and head of the SPIEF Organizing Committee, the forum showcased the “economic sovereignty” of Russia while highlighting the importance of the platform on the international level.

 “It seems to us that the most important thing SPIEF demonstrated was Russia’s self-sufficiency and economic sovereignty,” and that the country is not susceptible to “external pressures and blackmail,” Kobyakov said.

“SPIEF confirmed its status as a globally sought-after platform for discussing issues of the world order. This is important, as the world has already become multipolar.”

Among the major deals signed at the forum this year was a technical agreement on gas supplies between Russia’s main gas exporter, Gazprom, and China National Petroleum Corporation (CNPC).