Faltering Western Dominance, Global Transformation: What Putin's SPIEF 2026 Address Revealed
Around 20,000 participants from more than 130 countries gathered in St. Petersburg this week for the 29th St. Petersburg International Economic Forum (SPIEF), where Putin delivered the keynote address on Friday, June 5. He told attendees that developing countries now play a larger role in the global economy, while Western economies account for a shrinking share of global output. He also argued that Western sanctions and the freezing of Russia's sovereign reserves had "irreversibly impacted the standing of international currencies, the dollar and the euro," warning that any country could lose…
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