Putin’s Q&A at SPIEF: Ukraine, Economy Energy and More
/ Go to the mediabankPresident Vladimir Putin at the 2026 St. Petersburg International Economic Forum. June 5, 2026.
/ Go to the mediabank
Speaking to reporters at the plenary session of Russia’s premier economic and business forum on Friday, the president answered all the burning questions.Russia’s «International Isolation»?This is a «fairy tale,» Putin said, pointing out that the US was the initiator of attempts to isolate Russia, and that Russia continues to supply uranium to the US market, for example. «Nothing stopped for us.»Russia also has reliable partners and friends abroad like China and India, which did not bend to demands to isolate Moscow. «Everything is developing, everything is happening without much negative impact on us.»Russia «welcomes» everyone who wants to cooperate with it.
EconomyPutin at SPIEF: Western-Dominated Global Trade System Faltering, BRICS Rising13:16 GMTZelensky’s Letter«This morning he slipped me that piece of paper again,» Putin joked, commenting on the letter’s «rude» elements, and its seeming design to make a meeting between the leaders impossible.
For one thing, Zelensky brought up Putin's age. "The main thing is not age but the competence and fitness for work," the Russian president responded, pointing out that there are leaders older than himself who are sufficiently energetic.
Zelensky should also hold elections, and shouldn’t be afraid to hold them in accordance with the constitution, because otherwise his rule constitutes «an usurpation of power,» Putin said.Putin thanked President Trump for his efforts to resolve the Ukraine crisis, and reiterated that had he been in power in 2022, it’s possible the conflict would not have started.»I treat him as a colleague, with respect,» Putin said, thanking Trump for «educating the author of this letter,» including regarding his «manners,» in «full view of the world…and insisting on the dress code.»
Russia’s Special Operation in UkraineUkraine Violates Ceasefire at Zaporozhye Nuclear Power Plant 12:28 GMTFactors Reducing Likelihood of Talks«They ask for a meeting and then commit such terrible crimes. What is this supposed to mean?» Putin asked, commenting on the May 22 attack on Starobelsk Professional College in the Lugansk People’s Republic.Putin does not see a need for empty meetings, but agreements. Otherwise, talks would only be aimed at stopping Russia’s offensive operations.Ukraine Can’t Stop Investment Into RussiaInvestors evaluate an entire range of risks when entering a market, and Russia is deliberately cooling its economy at the moment to ensure macroeconomic stability, ensuring that «fundamentally, Russia remains attractive to partners.»
"The fighting will end someday, and sanctions harm those who impose them," he said, pointing to estimates of 1.5-2.5 trillion euros in losses among countries that have imposed sanctions against Russia.
Companies that have left the Russian market «have huge problems in the market; we have replaced them with other partners.»
WorldPlans for Tunnel Between US, Russia to Become Clear by End of Year — RDIF Head13:17 GMTRussia’s Dependence on Oil and Gas Prices Not As Great as People Think«It used to be 42%, now it’s 23%,» Putin said, commenting on whether and how much Russia has benefited from the Iran-US-Israel conflict.Saying that Russia is «critically» dependent on energy exports is no longer correct, although oil and gas companies have certainly benefited. But for Moscow, the stability of the market is more important, according to Putin. If oil prices are too high, the real productive sector is impacted.Global oil supply has dropped by 10%, and this is «shaking the market,» he emphasized. In the US case, when oil prices are high, «inflation will rise, and the fundamental foundation of the American economy will falter. These are the consequences.»US’s Big MistakeThe previous US leadership’s attempt to use the dollar as a weapon was a «huge, catastrophic, strategic mistake,» per Putin.»When the previous US leadership began using its currency, which is still a global reserve currency, as a tool of political warfare, everyone wondered ‘they could use this weapon against us too. What will happen? What will happen to our dollar-denominated reserves? What will happen to our money invested in American assets?» Putin said.
EconomyRuble Ranks in Top-3 Strongest Currencies Against Dollar in May30 May, 06:23 GMT
