St. Petersburg Economic Forum 2026 seals $89.5 bn in deals as Putin touts sovereignty and multipolar world

The 29th St. Petersburg International Economic Forum (SPIEF) was held in Russia from 3–6 June 2026. Organisers reported a record volume of agreements amounting to 6,642 trillion rubles (about $89.5 billion). More than 24,500 participants from 142 countries attended, with Saudi Arabia serving as the guest of honour.

The forum saw the return of U.S. private‑sector representatives after a ten‑year hiatus, including two dedicated Russia‑United States business dialogues. The mayor of St. Petersburg, Alexander Beglov, said the city signed 74 sectoral agreements worth roughly 731,720 billion rubles (about $9.9 billion).

In his main address on 5 June, President Vladimir Putin stressed “economic sovereignty” and a vision of a multipolar world. He said sovereignty now means a nation’s ability to develop its industry, finance, technology and logistics independently of external pressure, adding, “Sovereignty is not only political, it is also economic and technological capacity.” The speech framed Russia’s strategy as building new partnerships across Eurasia, the Middle East, Africa, Asia and the Global South while resisting Western sanctions.