Putin speaks at Eastern Economic Forum

On September 12, Russian President Vladimir Putin spoke at the plenary session of the Eastern Economic Forum. The VIII Eastern Economic Forum takes place on September 10-13, 2023 in Vladivostok on the campus of the Far Eastern Federal University.

Below are the main theses from his speech:

About economics

• There will be no deprivatization in Russia.
• There are no insurmountable problems or difficulties with the ruble exchange rate; there are controllable factors that affect the ruble rate.
• An increase in the key rate reduces inflation, although it constrains the economy.
• One needs to talk to businessmen so that they understand that working in Russia is more reliable. Businessmen should not keep walking into the same river over and over again distributing capital abroad.
• The global economy continues changing primarily due to the fact that the West is undermining the system of financial relations. However, the situation in the global economy has stimulated the work of the Russian authorities in the Far East.
• The profit that Russia has made exceeds the amount of Russia's frozen foreign exchange reserves twice.
• The government does not yet see the need to raise taxes in the Russian Federation.

About those who left Russia after February 24, 2022

• The trend with those who return to Russia is obviously positive, and Russia is concentrating.
• It is not clear why Rosnano's former chief Anatoly Chubais is hiding in Israel. He "ran away”, and there complex processes happening at Rosnano, there is a big financial hole there. "He is even on an illegal position in Israel, I really don't know why he needs that."
• The statements that Yandex co-founder Arkady Volozh made are related to his desire to preserve his business and assets abroad. He may have a good life there in Israel, but people in general should be grateful to their country.

About the development of the Far East

• The subsoil in the Far East of Russia has been explored only on the level of 35 percent. This research should be included in the geological exploration program for the growth of extractive industries, including those extracting scarce raw materials.
• Annual eSports tournament will be organised in the Far Eastern Federal District. First competitions will be held at the end of the year.
• The documents necessary to begin construction of facilities as part of the III stage of development of the Eastern training ground could be signed before the end of 2023.

About gas pipelines

• The Power of Siberia and Sakhalin-Khabarovsk-Vladivostok gas pipelines should be linked into one single system.
• The production of liquified natural gas in the Russian Arctic should triple by 2030, to 64 million tons per year.

About motorways

• The modernisation of the BAM Railway and the Trans-Siberian Railway will continue; the pace needs to be increased, including through concession mechanisms and attracting private capital.
• High-speed highways will run through Siberia and the Far East to the Pacific Ocean. A single transport corridor will be built.

About Ukraine

• Russian President Vladimir Putin refused to give a historical assessment to the actions of the Russian authorities. Answering a question from the EEF moderator, Putin said that only future generations will be able to objectively assess what the Russian authorities have done for the country.
• Russian President Vladimir Putin admitted that Kyiv may agree to hold peace negotiations only for the purpose of replenishing resources.
• The losses of the Ukrainian Armed Forces since the beginning of the counter-offensive amounted to 71,000 people, Putin said.