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The 19th St. Petersburg International Economic Forum is underway. Despite sanctions, more than 7,000 guests and 1,000 international companies including the heads of BP, Royal Dutch Shell and Total are expected. RT will keep you updated as things happen.
Thursday, June 18
Indian officials have confirmed that their government will sign a free trade agreement with the Eurasian Economic Union at the Forum on Thursday.
“We are definitely signing this agreement,” Amit Telang, First Secretary of the Indian Embassy in Russia, told Tass news agency.
Russia and Saudi Arabia plan to sign a joint action program Thursday on the exchange of technology information and investment projects between the two countries, Russian Energy Minister Aleksandr Novak told Tass news agency.
Russian agricultural producers have asked the authorities to expand the EU food embargo list if economic sanctions are extended against Russia, said Sergey Dankvert, the head of the Russian government’s agriculture watchdog. Russian agricultural producers will benefit from the embargo extension, he added.
Siegfried Wolf, chairman of Russian Machines, is speaking to RT. Together, domestic and foreign car sales have fallen by a dramatic 40 percent, as many foreign investors have left Russia due to sanctions. Wolf is calling for support from the Russian government to stimulate the market and to boost consumers’ spending power.
Video: /files/news/41/64/a0/00/spb.mp4
Russia and Turkey aim to sign an agreement on the construction of the Turkish Stream pipeline by the end of June, Russian Energy Minister Aleksandr Novak said.
The Russian car market will decline by around 30 percent, CEO of Volkswagen Group Rus Marcus Osegowitsch told Tass news agency, adding that the group would not cut its prices.
Gazprom and Austria’s OMV are planning to sign a cooperation agreement for the construction of pipelines and exploration of hydrocarbons in Russia, the German newspaper Der Standard reported, citing sources familiar with the situation.
The EU’s decision to extend economic sanctions against Russia is a form of economic masochism, Russian Railways CEO Vladimir Yakunin told Tass news agency.
READ MORE: EU agrees to prolong Russia economic sanctions till January 2016 – sources
The top-level Russian-Saudi meeting comes as Russia’s Agriculture Ministry and the country’s farmers aim to increase supplies of grain to Saudi Arabia and attracting investment from this country. Next year, Saudi Arabia plans to end its domestic grain production as part of a phasing-out process begun in 2008.
RT’s Murad Gazdiev in St. Petersburg will be briefing us on the events of the forum. The world’s top oil executives are attending, despite pressure from Washington, with the CEOs of BP, Royal Dutch Shell and Total flying to St. Petersburg. On Thursday, Russian President Vladimir Putin will meet with the Saudi Arabian Defense Minister, Crown Prince Muhammad bin Salman, the ranking Vice Premier of the People’s Republic of China, Zhang Gaoli, Mongolian Prime Minister Chimed Saikhanbileg and Yukiya Amano, the director-general of the International Atomic Energy Agency.
Video: /files/news/41/64/a0/00/3036689_biz_web.mp4
Article source: http://rt.com/business/267850-spief-russia-live-update/?utm_source=rss&utm_medium=rss&utm_campaign=RSS
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