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VTB CEO Andrey Kostin expects the Bank of Russia’s key rate to near 12% by the end of 2026, aligning with the central bank’s medium-term forecast. Meanwhile, State Duma official Anatoly Aksakov and Expert RA’s Marina Chekurova have put forward different scenarios for rate cuts later this year.
Russian President Vladimir Putin spoke at the St. Petersburg International Economic Forum's plenary session, focusing on economic sovereignty, the impact of sanctions, and the changing global trade landscape. He cited Russia's GDP growth, Rosneft's investments in India, and the doubling of BRICS' share in global trade.
Rostec CEO Sergey Chemezov announced at SPIEF that the import-substituted SJ-100 passenger jet is expected to complete its flight test program by fall, with large-scale production planned for next year. The company also outlined plans for a 10-ton-thrust engine based on the PD-8, and UEC-Saturn reported progress on PD-8 certification tests.
Kirill Dmitriev, Russia's special presidential envoy, said multifaceted dialogue with the US continues, with a meeting with Steve Witkoff and Jared Kushner expected later this month. He also claimed many European companies are willing to return to the Russian market, and that Russia has a clear plan for peace in Ukraine.
Kremlin spokesman Dmitry Peskov confirmed that President Vladimir Putin received and read Ukrainian President Volodymyr Zelensky's open letter but declined to reveal his reaction. Russian officials offered mixed assessments, with some dismissing the letter as a PR stunt and others reiterating Moscow's readiness to talk. Foreign Minister Sergey Lavrov said Russia had not received the letter through diplomatic channels.
Russian Foreign Minister Sergey Lavrov, in an interview with Izvestia, accused the West of pursuing the suppression and dismemberment of Russia, citing historical US strategy. He also described US-Russia dialogue on Ukraine as a 'vicious circle' while noting positive intentions from US negotiators Steve Witkoff and Jared Kushner.
VTB and Expert RA project Russian banks will earn 3.6–3.9 trillion rubles in 2026, potentially rising to 4.1 trillion in 2027, as lower interest rates drive lending and securities revaluation. Persistent labor shortages and selective credit growth remain key challenges.
Chinese President Xi Jinping will visit North Korea on June 8-9, his first trip in nearly seven years, as Beijing seeks to reassert its influence over Pyongyang amid deepening North Korea-Russia relations. The visit follows Xi's recent summits with US President Donald Trump and Russian President Vladimir Putin.
President Donald Trump personally appealed to Chinese President Xi Jinping to use Beijing's influence over Moscow to end the Ukraine war, according to multiple sources. The appeal came during last month's summit in Beijing, as negotiations between Russia and Ukraine have stalled. Trump has been pressuring Kyiv to reach a deal, while Russia launched a massive strike on Ukraine last month.
Russian Deputy Prime Minister Alexey Overchuk stated that Armenia must choose between the EAEU and the EU, warning that EU integration would conflict with EAEU standards. The EAEU leaders have requested a report on possible actions regarding Armenia's membership by December, with officials emphasizing the legal and economic uncertainties involved.
Russian Foreign Minister Sergey Lavrov said Europe will not support a settlement in Ukraine that removes President Volodymyr Zelensky's government from control, and that both Zelensky and European leaders reject Russia's territorial gains. The statements, made in interviews with RT Arabic and Izvestia, underscore Moscow's view of Western pressure on Russia through Ukraine.
Russian Foreign Minister Sergey Lavrov said US foreign policy actions, including in Venezuela, do not conform to international law, accusing Washington of pursuing oil interests. Russia also condemned the capture of Venezuelan President Nicolas Maduro and reported deaths during the operation, claims not independently verified.
Kremlin spokesman Dmitry Peskov said he does not yet know whether President Vladimir Putin will personally congratulate US President Donald Trump on his 80th birthday on June 14. This comes after Putin congratulated Trump on his last birthday during a phone call, as confirmed by Kremlin aide Yury Ushakov.
Russian President Vladimir Putin is set to deliver a keynote address at the St. Petersburg International Economic Forum's plenary session on June 5, with a focus on economic and political issues. The forum, themed 'Pragmatic Dialogue: The Path to a Stable Future,' has attracted around 20,000 participants from over 100 countries, including a rare US official delegation. Kremlin officials have also addressed Russia's military response to Ukrainian attacks and highlighted diplomatic engagements with leaders from Tanzania, Uzbekistan, and China.
Ukrainian President Volodymyr Zelenskyy has called for direct face-to-face negotiations with Russian President Vladimir Putin in a rare open letter, proposing a full ceasefire during talks. The Kremlin acknowledged receipt, while Putin expressed conditional willingness to negotiate, and US President Donald Trump endorsed the idea of a meeting.
Kirill Dmitriev, head of the Russian Direct Investment Fund, announced that an engineering agreement for the proposed Bering Strait tunnel will be signed on June 5. The project, dubbed the 'Putin-Trump Tunnel,' aims to complete design by end of 2026, with potential Chinese participation. Experts highlight significant logistical and economic challenges.
Saudi Arabia, as guest country at the St. Petersburg International Economic Forum, will sign 30 cooperation agreements with Russia across energy, education, and tourism. The kingdom's delegation is led by Energy Minister Prince Abdulaziz bin Salman Al Saud, with about 200 officials attending.
Russian prosecutors have charged former British Defense Secretary Ben Wallace in absentia over comments he made about bombing Crimea, according to state news agency TASS. The charges cite public calls for terrorist activity, and Wallace has been placed on an international wanted list.
Russian Deputy Prime Minister Alexander Novak said Moscow and Hanoi are in talks over Russian participation in creating a strategic petroleum reserve in Vietnam and discussed LNG supplies. Speaking at SPIEF-2026, Novak also called $80 per barrel a balanced oil price and said Russia is among the five countries with the lowest petroleum product prices.
Russian officials at SPIEF expressed readiness to expand relations with Georgia, emphasizing good-neighborliness and mutual respect. Deputy Foreign Minister Mikhail Galuzin backed reopening transport links across the South Caucasus, while spokeswoman Maria Zakharova highlighted visa-free travel and air travel resumption as steps toward stronger ties.