Putin Greets St. Petersburg International Economic Forum: West’s Policies Have Caused the Crisis

June 8, 2022 (EIRNS)—The St. Petersburg International Economic Forum (SPIEF) will hold its 25th annual meeting June 15-18, and Russian President Vladimir Putin (in Russian) sent out an early greeting to participants setting the framework for coming discussions. The SPIEF is a high-level international conference held in St. Petersburg, Russia, frequently attended by thousands of business, political and financial leaders from around the globe.

Putin noted that, this year, the meeting would occur at a “difficult time for the entire international community.” He emphasized, as he has stated on a number of occasions recently, that “the mistakes of Western countries in economic policy over many years and illegitimate sanctions have led to a wave of global inflation, the disruption of usual supply chains, and a sharp increase in poverty and food shortages. Yet, as can be the case, along with these challenges, new prospects are emerging. This is why the Forum’s slogan—New Opportunities in a New World—seems so relevant.”

Putin said that Russia, moving forward, would proceed with “the establishment of an independent and efficient financial system,” noting that “it is in our common interests to bolster trade and investment, encourage the joint development of technologies, strengthen financial and stock markets, and increase the share of settlements in national currencies. It is crucial to introduce and develop truly mutually beneficial integration models, as is already being done in the Eurasian Economic Union.”

China’s CGTN, in its coverage of Putin’s remarks, emphasized that “Russian President Vladimir Putin said on Monday that many years of mistakes by Western countries in economic policy and sanctions have led to global inflation, increased poverty and food shortages.”