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Today we see a lot of news from Russia about the St. Petersburg International Economic Forum (SPIEF). In 2025, it will be held for the 28th time. It is sometimes called Putin’s Davos or Russian Davos.
SPIEF continues to develop from a Western-oriented platform to an economic diplomacy mechanism consistent with the vision of multipolarization. The main topics discussed were the expansion of the BRIC countries, alternative energy strategies, better Arctic connections and reaching the global south.
Although the focus is on the economy, the current escalation of the Middle East conflict — in particular, the Israeli-Iranian conflict – highly likely will be discussed behind closed doors or less in official panel discussions.
Arctic Strategy and Maritime Sovereignty
The SPIEF 2025 forum will discuss the North Sea Route and extensive Arctic transport links between Europe and Asia. Russia believes that this is a matter of sovereignty and a strategic alternative to the traditional Suez route. Russia plans to invest in infrastructure from Kaliningrad to Vladivostok to ensure year-round navigation. This step is associated with Moscow’s desire to have more influence and logistical independence at sea.
Yep, the key factor in the successful development of the Arctic is the route of the North Sea (NSR) and the availability of relevant seaports and aviation infrastructure from one end of the Russian Arctic to the other, from Arkhangelsk to Chukotka.
However, in previous years, this forum was talked about more in the Arctic. For example, a Conference on the Economic Development of the Arctic took place as part of the Business Program of the 20th St. Petersburg International Economic Forum.
Arctic Welcomes Other Regions
The meeting consisted of four group meetings to discuss issues such as the effective management of the Arctic territory, the exploitation of regional economic and scientific potential, and cultural and tourist potential.
Within the Arctic Economic Development Conference, a group meeting held on the topic “The Arctic Welcomes Other Regions “. The participants of the discussion expressed the hope that the future Arctic Development Conference will become an annual event within the framework of the main business plan of the St. Petersburg International Economic Forum.
However, the miracle did not happen. The war between Russia and Ukraine interrupted long-term cooperation with Western countries in the Arctic. Without them, or in their absence, the new southern and eastern Arctic agenda with the Global South and BRICS countries still looks pale.
The Chinese, South Koreans, Indians, Turks in the Arctic have news from time to time. But little is heard about Arctic specialists, projects and scientists from Latin America and Africa.
Expand Connectivity
The Arctic environment requires specially developed technologies, products and services, as well as a certain level of cooperation between various regional and international actors. Cooperation between the various Arctic regions and beyond should play a central role in this process.
Key issues for this cooperation may include investment opportunities for countries outside the Arctic to promote Arctic development and the scientific and industrial potential of Arctic development.
The contracts worth 102 billion US dollars will be signed at the SPIEF-2025 forum related to technology sovereignty, import substitution, digital economy, infrastructure modernization, and expanded cooperation with partners in Asia, Africa, and Latin America. So, it is clear that economics is more important than politics. Even in the context of the war between Russia and Ukraine, business and investment are still priorities. It’s a pity, but very practical.
We hope that some of these contracts will be focused on the Arctic too.
The forum is still ongoing, and we will keep you updated.
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