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
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.
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
June 18, Thursday
Let’s have a look at the most interesting events of today. The BRICS issue will be one of the key topics for discussion on Thursday. At 15.00 MSK RT’s Peter Lavelle will host TV debates at the Forum, where he’ll discuss the importance of the BRICS New Development Bank with some of the leading Russian and foreign experts. Other important topics will include business cooperation between the EU and Russia-led economic bloc known as the Eurasian Economic Union (EEU), the Silk Road project and the new realities of the global oil market.
You can find a detailed daily program in the file attached.
Here’s a chart by Ernst&Young that shows the most quoted and viral topics discussed at the Forum.
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