The Russian President spoke in St. Petersburg that Moscow is counting on investments that may come from India, China and other countries in the “global south.” Putin said that with their help, he would make his country more resistant to Western sanctions. More than 17,000 companies from 136 countries participated in the four-day conference.
It was also said at the event that one of the goals of the event is to contribute to the development of a multipolar world order.
The Russian President delivered his speech before new sanctions on the Russians were adopted at this month's G7 meeting, which brings together Western countries. It is expected that new financial sanctions will be imposed on Moscow. To avoid these measures, Putin wants to cooperate with powers that are open to joint projects. For example Likewise, Bolivia: The South American country cooperates with Moscow in extracting lithium, which is necessary for the production of batteries.
It was also revealed that Chinese companies producing high-tech products will soon be able to install factories in Russia. In doing so they partly responded to expectations that the great power of the East would turn away from the Russians. Beijing is under increasing pressure from Western powers to comply with sanctions, partly because it knows it In May, the share of Chinese imported goods in Russia fell for the third month in a row.
Cover image source: Shutterstock
