Dmitriev Highlights Role of St. Petersburg Forum in Global Economic Development

Muscat: The head of the Russian Direct Investment Fund, Kirill Dmitriev, affirmed that the St. Petersburg International Economic Forum brings together sovereign states ready to move forward to develop their economies and strive for constructive economic work. According to Yemen News Agency, Dmitriev said: "The St. Petersburg International Economic Forum, a major global event attended by representatives from more than 130 countries, is being held at a critical time when the policy of globalization advocates has failed miserably." He added that the forum distinguishes itself by focusing on partnership to develop economies, unlike other forums such as Davos, which have not succeeded in implementing their ideologies. Dmitriev stated that countries of the Global South are enhancing their economic power and moving towards partnerships with Russia, which will be well-represented at the forum. He noted a strong European presence as well, highlighting Europe's realization of its economic and energy crises resulting from the abandonment of Russian energy. Dmitriev pointed out that Russian energy used to make up 55% of Germany's gas supplies, and the ongoing industrial decline in Germany is evident with many companies closing and Chancellor Mertz facing historically low approval ratings. He emphasized the participation of Germany and other European countries, including representatives from the Alternative for Germany party, which advocates for a moderate approach towards Russia. Dmitriev explained that Germany and other European countries are aware of the economic losses incurred by rejecting Russian energy, totaling about 3 trillion euros, which has driven their economies towards collapse. He stressed the importance of the presence of creative European political forces at the forum.