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Russia's economy is adapting to thousands of sanctions imposed on the country for its war in Ukraine. To stay afloat, it's had to find ways for more self-sufficiency and to rethink its foreign economic relations. All the sanctions have led to the fact that Russia has largely reorientated itself towards the BRICS countries, to Asia and the South. And that largely compensates for the losses that we suffer as a result of the sanctions. Although of course they're very significant and cannot be underestimated. The war in Iran is causing an energy crisis which can lead to a global deficit. Still, Europe doesn't seem to ease any sanctions against Russia's energy sector. The EU is preparing a new 21st package instead.
Those who shoot themselves in the foot need to figure out how to ensure the energy security. Russia has always been and remains a reliable supplier of energy resources for both European and Asian countries. Resolving the Ukrainian crisis takes a lot of international effort focused on negotiations which are believed to be currently stalled. Head of the Direct Investment Fund and Presidential Envoy Kirill Dmitriev told journalists that on Wednesday he had a phone conversation with US Presidential Envoys Steve Witkoff and Jared Kushner. According to Dmitriev, the dialogue continues.
Russia has been very clear on what are the outlines of the peace deals are. US pretty much supports those proposals and we're very clear in communication to Ukraine what it takes to get US security guarantees and to resolve peace. So there's lots of progress that has been made and frankly it's up to Ukraine now to basically take the path of peace, to accept what has been proposed and as soon as they do, the peace happens. Probably the most important day of the St. Petersburg Economic Forum is Friday when President Vladimir Putin is going to discuss some pressing political and economic issues with a number of the forum's top guests. Yulia Shapovalova,
Al Jazeera, Saint Petersburg.
