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At the St. Petersburg International Economic Forum, Russian Security Council Deputy Secretary Alexey Shevtsov expressed surprise at EU and US attempts to interfere in South Caucasus regional security, emphasizing that regional problems require regional solutions. He also condemned Armenian threats to restrict voting rights as unacceptable and contrary to European standards.
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.
Saudi Energy Minister Prince Abdulaziz bin Salman met with Russian officials in St. Petersburg, calling for stability in global energy markets as OPEC+ contends with the fallout from wars in Iran and Ukraine. The meeting underscored the deepening Saudi-Russia alliance, even as the UAE's departure from OPEC and falling Russian oil production complicate the group's ability to manage supply.
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 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.
At SPIEF-2026, Russian Finance Minister Anton Siluanov stated that real incomes have grown by more than 24% over the past three years, and that additional budget revenue from the Strait of Hormuz situation could reach 1 trillion rubles, potentially replenishing the National Wealth Fund. He also noted the Fund’s total stood at 12.955 trillion rubles as of June 1, with investments exceeding 4 trillion rubles.
Russian Deputy Prime Minister Alexander Novak warned at SPIEF that declining global energy investments threaten the supply-demand balance and international economy. He also highlighted extreme uncertainty in oil markets and potential shifts toward alternative energy due to prolonged Middle East conflict.
Russian officials have stated Moscow will not finance Armenia's path toward European Union membership, warning that Yerevan faces a stark choice between the EU and the Eurasian Economic Union. Experts caution that severing economic ties with Russia could have severe consequences for Armenia's economy.
Vyacheslav Fetisov, two-time Olympic champion, told TASS he recently played ice hockey with Russian President Vladimir Putin. Kremlin spokesman Dmitry Peskov confirmed Putin still plays. The comments came on the sidelines of the 2026 St. Petersburg International Economic Forum.
Russian Deputy Prime Minister Alexander Novak said oil production is currently below levels at the start of 2026 but expects to meet OPEC+ quota this year. He also discussed a global market deficit and OPEC+ limitations amid the Middle East conflict.
Iranian Foreign Minister Abbas Araghchi reported no tangible progress in negotiations with the United States, tying any deal to an Israeli withdrawal from Lebanon, while President Donald Trump described the talks as going well. An Iranian drone strike on Kuwait International Airport killed one person, and Israeli operations continued in Lebanon amid competing demands over a ceasefire.
Israel and Lebanon have agreed to implement a ceasefire contingent on Hezbollah halting fire and withdrawing from southern Lebanon, with pilot security zones to be established. Residents in Beirut express cautious skepticism, while Hezbollah condemns the US-brokered framework.
SpaceX's initial public offering is set to be the largest in history, raising up to $75 billion at a valuation near $1.8 trillion. The float has drawn interest from ordinary Australians and global investors, while analysts question the valuation and governance. Meanwhile, investors in China and elsewhere weigh the implications.
Cape Verde will make its first World Cup appearance at the 2026 tournament in North America, facing Spain, Uruguay, and Saudi Arabia in Group H. The small island nation qualified after a strong run in African qualifiers, and key players and coaches share their anticipation.
Bangladesh’s Foreign Minister Khalilur Rahman has been elected president of the 81st session of the UN General Assembly, narrowly defeating Cyprus’s Andreas Kakouris in a secret ballot. Rahman, a career diplomat, will take office in September 2026, with his tenure coinciding with the selection of a new UN Secretary-General.
VTB CEO Andrey Kostin said at the St. Petersburg International Economic Forum that investors from China and the Persian Gulf are showing renewed interest in Russia, calling it a positive sign. He also announced high-level meetings with Saudi Arabia, Bahrain, and the UAE on the forum's sidelines.
Russian Deputy Foreign Minister Alexander Pankin said Moscow sees US plans to step up economic pressure on Russia and other countries, including extraterritorial measures, while asserting Russia's resilience under sanctions. Speaking at the St. Petersburg International Economic Forum, Pankin also discussed APEC's commitment to pragmatic cooperation and Russia's hopes to host the forum in 2035.
Russia's Rostec subsidiary High-Precision Systems has unveiled the Depesha-3 ground robotic platform at the St. Petersburg International Economic Forum. The system is designed for cargo transport and casualty evacuation, with modules for expanded combat roles reportedly being tested. The forum, running June 3-6, features Saudi Arabia as guest country.
Kherson Region Governor Vladimir Saldo claimed at the St. Petersburg International Economic Forum that Western countries deliberately focused on the Middle East to give Ukraine time to strengthen its drone capabilities. He also accused Kyiv of targeting civilians, while Federation Council Speaker Valentina Matviyenko condemned Western inaction over alleged Ukrainian 'state terrorism.'
At SPIEF 2026, Rosatom officials outlined plans to industrialize fourth-generation nuclear technologies through the Proryv project, potentially providing a nearly inexhaustible energy source after 2034. The forum also highlighted shifting global nuclear construction trends toward the Global South and Russia’s leadership in fast reactor development.