Vladivostok Economic Meeting Opens, with Russia’s Plan To Avoid the West’s ‘Huge Global Storm’ Hinging on Asia

Sept. 6, 2022 (EIRNS)—The Seventh Eastern Economic Forum (EEF) opened Sept. 5 in Vladivostok, Russia, and will continue until Sept. 8. The theme is “On the Path to a Multipolar World.” Russian President Vladimir Putin met with the moderators of the key sessions today and reflected upon the surprising importance that the EEF has taken on, “because, indeed, it turned out to be in great demand, especially in modern conditions, as we all understand now.” Putin will address the plenary session tomorrow.

The Kremlin spokesman Dmitry Peskov, in a TASS interview, provided an appetizer: “Most likely, a huge global storm is starting. In many ways, there are objective reasons for that, but there are also subjective reasons for this beginning storm, which are linked to absolutely illogical and often absurd decisions and actions of the authorities in the U.S., Europe, the EU and individual European countries.” He maintained that the sanctions imposed upon Russia by the U.S., the EU and some other nations have backfired, causing a spike in energy prices and record inflation across the West. Then the key: In this situation, Russia “still manages to maintain macroeconomic stability. Very intense, thoughtful and consistent work is being carried out in order to achieve that. I am sure it will also be among the topics” of Putin’s address. He pointed in the obvious direction: “As restrictions are being artificially introduced in the West, [Russia’s] trade and economic relations are understandably starting to focus more on the East.”

There have been serious, sustained discussions amongst Moscow’s political, economic and financial circles regarding production-oriented, non-dollar economic arrangements. It is very likely that Peskov is referring to this, in his description of “very intense, thoughtful and consistent work” to achieve “macroeconomic stability.” Russia’s “pivot to the East” has taken on no insignificant strategic importance.