Western media would have you believe that Russia is an underdeveloped nation with a wretched standard of living. They advance the perception that it is a country that has never recovered from the collapse of the Soviet Union.
They would also want you to believe that Russia is suffering under the heavy burden of Western imposed sanctions that have brought Russia to her knees as a result of isolation, which couldn’t be further from reality.
The St. Petersburg International Economic Forum (SPIEF) is right around the corner, scheduled for the the 24th-26th of May, and the docket for this year’s event should be impressive to anybody who keeps an eye on international economics.
As reported by RT
According to the head of the Russian Direct Investment Fund, Kirill Dmitriev, about 40 leaders of the world’s largest investment funds from 20 countries with total assets of over $13.5 trillion will participate in the forum. This is a record for such meetings, Dmitriev explained.
“Foreign guests will discuss with President Putin that Russia has a good macroeconomic position and that they have benefited from investing in the Russian economy,” he said, adding that “all assumptions that the Russian economy will be isolated were not justified.”
About 15,000 participants from more than 100 countries are expected at the three-day event, which will officially open on May 24.
“The interest is high and official delegations from over 100 countries will come, which is about 15,000 potential participants,” St. Petersburg Governor Georgy Poltavchenko told reporters. “Among high-ranking guests, we are expecting French President Emmanuel Macron and Japanese Prime Minister Shinzo Abe.”
America and its allies have been a major push to prevent Russia from having access to their markets, and those in which they hold heavy influence, through successive rounds of sanctions and lots of political denunciations over trumped up allegations, from supporting tyrannical governments to ‘recklessly’ making use of illegal nerve agents in extraterritorial assassinations. But just how effective has this scheme operated?
The effects have been somewhat disparate, as some companies benefit from the sanctions, where their business grows owing to less foreign competition. Others, who also operated in western markets, are feeling the squeeze, having lost that access, which represents some percentage of their earnings. Yet many more are entirely unaffected.
And then there are those who just intend to go on ignoring them. The upcoming St. Petersburg International Economic Forum will host many thousands of investors from over 100 countries, including numerous well qualified high net worth investors with massive portfolios.
The statements, views and opinions expressed in this column are solely those of the author and do not necessarily represent those of The Duran.