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European businesses shouldn’t be held hostage by US sanctions against Russia – investor

US sanctions against Russia are pointless and completely out of order, the President of Thomas Vendome Investment Jean-Pierre Thomas told RT at the St Petersburg International Economic Forum (SPIEF). Thomas said he does not understand why the European economy should be impacted. “Sanctions are the sole decision of the United States, it’s not the decision of Europe and even the ...

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Crisis looming over global economy without free trade

Multilateral free trade is a key to global economic stability, global leaders at the St. Petersburg International Economic Forum (SPIEF) have agreed. Russian President Vladimir Putin warned about the deepest crisis the global economy has ever seen, if protectionism prevails. “The system of multilateral cooperation, which took years to build, is no longer allowed to evolve. It is being broken ...

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High reserves & low debt make Russian economy strong in hard times – IMF

The International Monetary Fund has revised its outlook for the Russian economy, and there is some good news for Moscow, IMF Chief Christine Lagarde said at the St. Petersburg International Economic Forum (SPIEF). “Russia has put in place an admirable macroeconomic framework—saving for a rainy day, letting the exchange rate float, introducing inflation targeting, and shoring up the banking system,” ...

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Global economy is pregnant with digitization, but I’m okay, Putin reassures

The world’s economy is hooked on technology, even if he isn’t, Russian President Vladimir Putin said during a panel session with his French counterpart, Emmanuel Macron at the St. Petersburg Intl. Economic Forum (SPIEF 2018). Putin referred to a statement by President of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin, who reportedly said the Russian president is “infected” ...

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Putin trolls Macron over 'huge' French investments in Russia

A single Finnish company invested the equivalent of almost half of all French investment in Russia, President Vladimir Putin told his counterpart Emmanuel Macron at the St. Petersburg International Economic Forum (SPIEF). “Finland’s Fortum invested €6 billion in Russia, while the whole of France invested €15 billion,” Putin said jokingly. Moments earlier, the French President boasted about the figure, proudly ...

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Strong fundamentals of Russian economy attract foreign investors

Russia’s economic growth is a very positive sign for businesses, as it creates a lot of confidence about their investments, Ian Colebourne, CEO of Deloitte CIS, told RT at the St. Petersburg International Economic Forum (SPIEF). “I think it’s fair to say that the level of growth would have been higher if we hadn’t faced these challenges [sanctions]. And I ...

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Russia-Germany business ties remain solid despite sanctions – German trade lobby

German firms continue investing in the Russian economy despite facing barriers from economic sanctions against Russia, the head of the German business lobby told RT at the St. Petersburg International Economic Forum (SPIEF). “The foundations of German and Russian economic relations are solid even in the time of sanctions and low oil and gas prices. Last year, we saw high ...

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Washington uses sanctions to push its gas to Europe – Germany’s largest energy company

The US is interested in force-feeding its liquefied natural gas on the European gas market so it seeks to stop Russia’s Nord Stream 2 pipeline, Thilo Wieland, a board member of German energy company Wintershall, said at SPIEF. “The United States is openly using the sanctions mechanism to promote its interests on the European gas market,” Wieland told Sputnik news ...

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France signs contracts with Russia to invest €1bn

Published time: 24 May, 2018 18:36 Edited time: 24 May, 2018 18:49 Russia and France have signed six contracts for direct investment into Russia worth about €1 billion as part of the ongoing business forum in St Petersburg and the coinciding visit of the French president. The billion-euro ($ 1.17 billion) sum of the deal was reported on Tuesday by ...

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