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Putin at SPIEF 2024: “Russia is a major player in global trade”

The key event of the St. Petersburg International Economic Forum (SPIEF 2024) was the speech of Russian President Vladimir Putin at the plenary session, Russian media reported.

The Russian president said that the world is experiencing explosive technological growth in all spheres of life. Only those who will be able to take full advantage of technological advances in the future will implement them faster into their daily lives.

Putin noted that the future of states depends on how they will be able to respond to global challenges. For this purpose, Russia has formed a comprehensive programme for the country’s development until 2030.

Russia has proved a high level of readiness for technological transformation, the financial sector and transport services are changing, the president said.

Sanctions don’t matter

He noted that despite sanctions, Russia today is the most important participant of international trade, and relations with friendly states are strengthening. At the same time, he noted that a race for strengthening their sovereignty has begun between the world’s leading states. The countries that were leaders are trying by all means to preserve their role of hegemon.

Russia is actively developing logistics and expanding the geography of trade, the President added. He also said that Russia is ready to offer other countries a full-scale full-cycle technological partnership.

By 2030 the throughput capacity of the eastern range of railways will increase to 210 million tonnes, and by 2032 – to 270 million tonnes, Putin said at the SPIEF 2024.

Talking about payment systems, Putin said that trust in Western payment systems has been thoroughly undermined by these countries themselves.

According to the president, the share of the ruble in export-import operations is growing – approaching 40%, and from 2021 to 2023 the share of the ruble in settlements for Russian exports has almost tripled to 39%.

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