Once envisioned as Russia's "window to Europe," St. Petersburg is now emerging as a strategic hub for strengthening ties with the Global South, as showcased at this year's St. Petersburg International Economic Forum (SPIEF). The event, held from June 18 to 21, drew representatives from 92 countries and regions, signaling Moscow's pivot toward Africa, Asia, and Latin America amid Western sanctions.
Key themes at SPIEF included economic diversification, industrial sovereignty, and multipolar trade frameworks. A notable development came from Kazakhstan, where Russian nuclear firm Rosatom will build the country's first nuclear power plant. Separately, the China National Nuclear Corporation will lead another consortium for a Kazakh energy project, highlighting deepening Eurasian partnerships.
While U.S. Chamber of Commerce in Russia President Robert Agee moderated discussions on Russia-U.S. business relations, analysts observed the forum's primary focus on non-Western collaboration. "This isn't isolation—it's reorientation," remarked one delegate, pointing to Russia's growing energy and technology exchanges with Global South nations.
The forum's business program emphasized practical cooperation, with sessions on financial sovereignty and sustainable development attracting policymakers and CEOs alike. As Western sanctions reshape global supply chains, SPIEF positions itself as a platform for alternative economic networks rooted in the Global South's priorities.
