Despite facing a barrage of sanctions from Western powers over its actions in Ukraine, Russia's economy is demonstrating unexpected resilience. Instead of retreating, Moscow is forging new pathways in the East and the Global South, signaling a strategic pivot rather than a complete disengagement from the West.
Contrary to expectations, many Western companies have chosen to maintain their operations within Russia. Additionally, some European Union members continue to indirectly purchase Russian energy, underscoring the complexity of global economic interdependencies.
Russian President Vladimir Putin has highlighted that three-quarters of Russia's trade is now linked to \"friendly countries,\" emphasizing the nation's focus on strengthening ties with non-Western partners. This shift was evident at this year's St. Petersburg International Economic Forum, where major guests were predominantly leaders from Asia and other non-Western regions, rather than their Western counterparts.
Established in 1997, the St. Petersburg International Economic Forum has grown into Russia's premier international economic event, often likened to the World Economic Forum in Davos. The forum continues to attract global leaders, fostering dialogue and cooperation in a landscape increasingly defined by shifting alliances and emerging markets.
Reference(s):
cgtn.com
