Latest news with #28thStPetersburgInternationalEconomicForum
Time of India
28-06-2025
- Politics
- Time of India
‘Ukraine is ours': Putin's chilling declaration to West amid ongoing war, sparks WW3 panic
Russian President Vladimir Putin took part in the plenary session of the 28th St Petersburg International Economic Forum. This year's theme is Shared Values: The Foundations of Growth in a Multipolar World. In a sharp exchange with Nadim Koteich, Putin was questioned about the West allegedly normalising the assassination of foreign leaders, like Iran's Khamenei. Responding, Putin reframed the moment geopolitically, saying Russia and China aren't creating a new world order but merely shaping its natural emergence, away from coercion and neo-colonialism. Show more Show less
Time of India
23-06-2025
- Politics
- Time of India
'Talking about killing Heads of State now acceptable?': Putin slams US-led West over Iran attack
Russian President Vladimir Putin took part in the plenary session of the 28th St Petersburg International Economic Forum. This year's theme is Shared Values: The Foundations of Growth in a Multipolar World. In a sharp exchange with Nadim Koteich, Putin was questioned about the West allegedly normalising the assassination of foreign leaders, like Iran's Khamenei. Responding, Putin reframed the moment geopolitically, saying Russia and China aren't creating a new world order but merely shaping its natural emergence, away from coercion and neo-colonialism. Show more Show less
Mint
22-06-2025
- Business
- Mint
India doubles its petroleum exports to Europe in 3 years backed by oil imports from Russia: Rosneft CEO
New Delhi: India has doubled its petroleum product exports to Europe in the past three years, backed by higher imports of cheaper oil from Russia, said the chief executive officer (CEO) of Rosneft Igor Sechin. Addressing the 28th St Petersburg International Economic Forum, the CEO of Russia's state-owned energy company said that global energy security is impossible without Russia, Venezuela and Iran. He noted that these countries, with which oil trade has been sanctioned by the US, account for one-third of the global liquid hydrocarbons reserves and 15% of the global production. 'Being the second largest buyer of Russian crude oil, India has practically doubled its export of petroleum products into Europe over the past three years," he said. Also read: If Iran's oil is cut off, China will pay the price India increased the import of Russian oil after the western sanctions on Russia's energy supplies following its invasion of Ukraine in February 2022, as it offered India deep discounts. Russian oil currently comprises about 35% of India's overall oil imports, up from around 2.5% before the Russia-Ukraine conflict started. He also said that many oil-producing countries need an oil price much higher than current levels to balance their budgets. 'Thus, according to International Monetary Fund calculations, in 2025 this price is more than $90 per barrel for Saudi Arabia's budget," he said. The August Brent contract on the Intercontinental Exchange stood at $77.01 per barrel, 2.33% lower than its previous close. However, prices have soared from $64-65 after Israel launched aerial attacks on Iran on 13 June. Also read: Brazil auctions off several Amazon oil sites despite environmentalists, Indigenous protests Speaking on energy security, the CEO said, 'Russia, Venezuela and Iran are key players in the energy market and global energy security directly depends on their supply. These countries account for one-third of the global liquid hydrocarbons reserves and 15% of the global production. Without their resource base, it is impossible to facilitate the transition to the new landscape of the global energy industry." Observing that Russia's actual contribution to the global economy is proportional to its share in the world resource balance, he said that Russia's share in global hydrocarbon exports is about 15%. Also read: Oil India: Looking beyond benefits of crude price rally Talking of India's growing energy demand, he said, 'India, which many now expect to experience explosive growth in energy demand, is on the verge of choosing its energy consumption model. In this country, we are also seeing a growing interest in coal-fired and nuclear generation. For example, more than 30 coal mines are scheduled to reopen this year, and five new coal mining projects are expected to come onstream. India is also building six new nuclear reactors." He also noted that the Indian government plans to add at least 80 GW of additional coal-fired capacity by 2032 to meet growing electricity demand.
Qatar Tribune
22-06-2025
- Business
- Qatar Tribune
Qatar participates in 28th St Petersburg International Economic Forum
St Petersburg: The State of Qatar participated in the 28th St Petersburg International Economic Forum, which took place in Russia over four days, with the participation of several heads of government, senior officials, and experts from around the world. The State of Qatar's official delegation was led byMinister of State for Foreign Trade Affairs HE Dr Ahmed bin Mohammed Al Sayed and representatives from the Ministry of Commerce and Industry, the Qatar Investment Authority, the Investment Promotion Agency Qatar (Invest Qatar), and the Qatar Chamber of Commerce and Industry. The Qatari delegation highlighted the strength of Qatar's economy and its leading position both regionally and internationally. They also showcased the country's attractive investment environment for global businesspeople and investors, presenting key incentives, advantages, and initiatives launched to support the private sector and enhance the competitiveness and diversification of Qatar's economy in line with Qatar National Vision 2030. The Minister of State for Foreign Trade Affairsآparticipated in the forum's plenary session, attended by President of the Russian Federation HE Vladimir Putin, along with a number of prominent political and economic figures and decision-makers from around the world. Dr Al Sayed also took part in a high-level discussion session on searching for new engines of growth: redesigning the global financial and trade framework. During his remarks in the session, he highlighted the State of Qatar's role in promoting innovation and research as key pillars for sustainable economic growth. Dr Al Sayed pointed to the Qatar Research, Development and Innovation Strategy 2030, which aims to bring about a qualitative transformation by enhancing institutional infrastructure and setting national priorities in areas such as food security, health, energy, technology, and logistics. He said that Qatar is encouraging both the public and private sectors to adopt advanced technological solutions that enhance efficiency and competitiveness and support entrepreneurship, particularly in priority sectors. He also deemed the Gulf Cooperation Council (GCC) as a successful regional integration model, noting its achievements in unifying economic systems and policies, and in strengthening joint infrastructure and services. His Excellency added that the GCC is steadily progressing toward full economic integration, further solidifying its position as a global financial and investment hub. Dr Al Sayed also pointed out that the GDP of GCC countries has reached approximately USD 2.2 trillion, placing the bloc 9th globally. Furthermore, GCC financial markets rank 7th worldwide in terms of market capitalization, representing 4.3 percent of total global markets. In 2024, the non-oil sector contributed 75.9 percent of the region's GDP. He also highlighted Qatar's success in implementing a digital economy, driven by its advanced infrastructure and adoption of Fourth Industrial Revolution technologies, positioning the country at the forefront of the global shift toward a knowledge-based economy. On the sidelines of the forum, the Minister of State for Foreign Trade Affairsآheld separate meetings with Russian Deputy Minister of Agriculture HE Maxim Markovich and Chairman of VTB Ban Andrei Kostin. The meetings explored prospects for cooperation across various sectors and highlighted Qatar's attractiveness in terms of the incentives, legislation, and the promising opportunities it offers to encourage entrepreneurs and business leaders to investment. He also toured the accompanying exhibition, visiting the pavilion of the Kingdom of Bahrain - this year's guest of honour - along with other participating entities. He was briefed on the latest services and innovations present in sectors such as industry, financial services and insurance, information technology, healthcare, education and science, business consulting, telecommunications, logistics and transport, real estate, hospitality and tourism, and metals and mining.
Qatar Tribune
21-06-2025
- Business
- Qatar Tribune
Qatar underscores global economic role at SPIEF
Tribune News Network Doha Minister of State for Foreign Trade Affairs HE Dr Ahmed bin Mohamed Al Sayed headed the delegation of Qatar at 28th St Petersburg International Economic Forum (SPIEF 2025), held in Russia on 18-21 June 2025 – bringing together heads of government, senior officials, private sector leaders and experts from worldwide. Qatar's participation highlights its leading economic position on regional and international levels and aims to underscore the attractive investment environment available for foreign investment. The delegation shed the light on the key investment incentives, advantages, and initiatives steered to support the private sector and enhance the competitiveness and diversification of national economy under Qatar National Vision 2030. The minister of state took part in the forum's plenary session attended by President of the Russian Federation Vladimir Putin alongside prominent political and economic figures and global decision-makers. He also participated in a high-level panel discussion entitled 'In Search of New Growth Drivers: Redesigning the Global Financial and Trade Framework,' alongside senior officials including Deputy Prime Minister of Russian Federation Alexey Overchuk, Deputy Prime Minister of Lao People's Democratic Republic Saleumxay Kommasith, Minister of Finance of Russian Federation Anton Siluanov, Chairman and CEO of VTB Bank Andrey Kostin, Chairman and President of the African Export-Import Bank Benedict Okey Oramah, Founder of RUSAL, GAZ Group, and the Volnoe Delo Foundation Oleg Deripaska and Yaroslav Kuzminov, and Yaroslav Kuzminov, Academic Supervisor at the Higher School of Economics (National Research University). The minister of state delivered remarks highlighting Qatar's pivotal role in promoting innovation and scientific research as a cornerstone of sustainable economic growth. He underscored the importance of Qatar's research, development, and innovation strategy 2030, which seeks to catalyse institutional transformation and advance key national priorities, such as food security, healthcare, energy, technology and logistics. He emphasised that Qatar fosters an ecosystem in which the public and private sectors are encouraged to adopt advanced technological solutions that enhance efficiency, strengthen competitiveness, and drive entrepreneurship—particularly within prioritysectors. He also underscored the Gulf Cooperation Council (GCC) as a successful model of regional integration, highlighting its harmonised economic systems and policies, and shared infrastructure and services. He noted that the GCC continues to make steady progress towards full economic integration, further strengthening its position as a prominent global financial and investment hub. He stated that GCC's aggregate GDP reached approximately $2.2 trillion, ranking it ninth globally, while its capital markets hold the seventh position worldwide by market capitalisation, accounting for 4.3 percent of global markets. The non-oil sector contributed 75.9 percent of the region's GDP in 2024. Al Sayed also highlighted Qatar's success in advancing a digital economy, underpinned by its robust infrastructure and adoption of Fourth Industrial Revolution technologies. He noted that this enables Qatar to keep pace with global transformations and position itself as a leader in the knowledge economy. On the sidelines of the forum, he held bilateral talks with Maxim Markovich, Deputy Minister of Agriculture of the Russian Federation, and Andrey Kostin, chairman and CEO of VTB Bank. The meetings explored prospects for cooperation in various fields and the incentives, legislation overhaul, and promising opportunities Qatar offers to encourage foreign investment. He also toured the forum's accompanying exhibition, including the pavilion of the Kingdom of Bahrain, this year's guest of Honour, and several other exhibitors. He was briefed on the latest services and innovations in sectors such as industry, financial services and insurance, information technology, healthcare, education and science, business consultancy, telecommunications, logistics and transport, real estate, hospitality and tourism, and metals and mining. The official delegation representing Qatar at the St. Petersburg International Economic Forum included representatives from the Ministry of Commerce and Industry, Qatar Investment Authority, Investment Promotion Agency (Invest Qatar), and Qatar Chamber of Commerce and Industry.
