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Day 2 of SPIEF-2026 Features India-Russia Business Dialogue

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SPIEF 2026 is underway in St. Petersburg, bringing together representatives from more than 130 countries, with a strong presence from the Global South. 04.06.2026, Sputnik India

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Day 2 of SPIEF-2026 Features India-Russia Business Dialogue

11:12 04.06.2026 (Updated: 17:50 04.06.2026)

SPIEF 2026 is underway in St. Petersburg, bringing together representatives from more than 130 countries, with a strong presence from the Global South.

Held under the theme "Pragmatic Dialogue: The Path to a Stable Future," the forum will feature over 380 events dedicated to investment, technological sovereignty, joint ventures and settlements in national currencies.

Particular attention is focused on India, whose political and business delegations have arrived at the forum as Moscow and New Delhi continue discussions on a potential critical minerals agreement. Market participants are closely watching for major announcements in the coming days.

One of the key moments of the forum will be the traditional plenary session featuring Russian President Vladimir Putin on June 5.

Table of contents

New firstOld first

23:28 04.06.2026

Russian President Vladimir Putin - Sputnik India, 1920, 04.06.2026

Indo-Russian Relations

Trying to Pressure PM Modi is Pointless: President Putin

Yesterday, 22:49

21:56 04.06.2026

President of Russia Vladimir Putin and President of South Africa Cyril Ramaphosa during their meeting at the 16th BRICS Summit in Kazan. Tuesday, October 22, 2024. - Sputnik India, 1920, 04.06.2026

World News

Russia-Africa Summit Set to Focus on Economic Cooperation and Investment: Foreign Ministry

Yesterday, 21:55

21:30 04.06.2026

Russia-Saudi Economic Ties Could Deliver $10 Billion in Trade Volume: Business Council

Russia and Saudi Arabia could increase their bilateral trade to $10 billion in the foreseeable future, Tariq al-Qahtani, head of the Russian-Saudi Business Council, told Sputnik at the St. Petersburg International Economic Forum (SPIEF).

"Today only money transfers make the process more complicated, but despite this, trade has grown from 2020 to $3 billion. We hope that in the future trade between Russia and Saudi Arabia will increase to $10 billion," the official said.

Such growth could be driven by expanded cooperation in natural resources, industrial production and tourism, he added.

20:52 04.06.2026

Russia Grants 12 Licenses for Rare Earth Deposits: Natural Resources Minister

Twelve licenses for rare earth metal deposits have been issued out of 18 listed on the state balance sheet, while six remain undistributed, Russian Minister of Natural Resources and Environment Alexander Kozlov said at the St. Petersburg International Economic Forum (SPIEF).

"At present, we have 18 rare earth metal deposits on the state balance sheet. We have already issued 12 licenses, while six have yet to be allocated. As soon as investors come forward, Rosnedra [the Russian Federal Subsoil Resources Management Agency] will promptly take all necessary steps to … organize auctions," Kozlov said during the session "Rare and Strategic: Sovereignty and International Cooperation in the Field of Rare Earth Elements and Critical Minerals" at the SPIEF.

Work is also underway at various stages across 18 areas where reserves of rare metals, including rare earth elements, are yet to be identified, he added.

20:18 04.06.2026

Indonesia Expects EAEU Free Trade Deal to Boost Investment: Minister

Indonesia expects to expand trade and investment cooperation with Eurasian Economic Union (EAEU) countries following the ratification of a free trade agreement, Indonesian Coordinating Minister for Infrastructure and Regional Development Agus Harimurti Yudhoyono said.

"Indonesia and the EAEU signed a Free Trade Agreement in December 2025. The agreement is now in the process of ratification. Once it enters into force, it can help advance our trade and investment relations," he said during an EAEU-ASEAN business dialogue at the St. Petersburg International Economic Forum (SPIEF).

Indonesia seeks to develop relations with all states and sees itself as a bridge between different regions of the world, Yudhoyono said.

Dialogue between EAEU and ASEAN countries is taking place amid growing geopolitical and economic uncertainty, which requires strengthening international cooperation and creating reliable supply chains, he said. The minister called on the EAEU and the ASEAN to move from discussions to practical cooperation.

The free trade agreement between Indonesia and the EAEU provides for expanding access for goods to their markets, reducing trade barriers, and developing investment cooperation.

20:07 04.06.2026

Maria Zakharova - Sputnik India, 1920, 04.06.2026

Ukraine Seeks to Pressure Russia Through Attacks on St. Petersburg: Russian Foreign Ministry

Yesterday, 20:07

16:23 04.06.2026

SPIEF 2026 - Sputnik India, 1920, 04.06.2026

World News

SPIEF Expert Names Five Criteria of Successful Country

Yesterday, 16:22

15:15 04.06.2026

15:14 04.06.2026

15:13 04.06.2026

World News

Russia Invites Indian Companies to Vladivostok Tech Hubs

Yesterday, 15:12

14:38 04.06.2026

Russia's Oil Output to Increase After Modest Decline: Deputy PM

Oil production in Russia is slightly lower than at the beginning of 2026, but it will increase as refineries complete unplanned repairs, Russian Deputy Prime Minister Alexander Novak said on Thursday.

"Production is indeed slightly lower now than at the beginning of the year. This is due to the fact that a number of our processing plants are undergoing unscheduled repairs, and we naturally maximise the load on the export infrastructure. As the refinery goes into operation, production will increase, and it will reach the levels that it had," Novak told reporters at the 2026 St. Petersburg International Economic Forum (SPIEF).

The situation in the Russian fuel market is stable, and prices at most gas stations are rising no higher than inflation, the official added.

14:32 04.06.2026

Russian Economy Enters Era of Stronger Ruble, Higher Rates: Official

The shape of the Russian economy in the near future is determined by a stronger ruble and higher interest rates, Russian Economic Development Minister Maxim Reshetnikov said on Thursday.

"The shape of the economic model, it is more or less traceable — this is a stronger ruble than many would like, and a slightly higher interest rates. This is the framework that has been formed and in which we have to work," Reshetnikov stressed at the 2026 St. Petersburg International Economic Forum (SPIEF).

Structural changes in the Russian economy are actively underway, the official said, adding that its model is constantly being adjusted.

11:59 04.06.2026

Economic Growth Opportunities for Russia Getting Bigger, Should Be Used: Russian Official

The economic growth opportunities for Russia are getting bigger, and they should be used, Russian Presidential Executive Office Deputy Chief of Staff Maxim Oreshkin said on Thursday.

"The opportunities that our economy has are getting bigger and bigger. This is what you need to use to move forward," Oreshkin said at the 2026 St. Petersburg International Economic Forum (SPIEF).

Western economies are in a fever, and this is also affecting Russia, the official said, adding that Moscow needs to take advantage of the opportunities that open up.

The 2026 SPIEF is taking place from June 3-6. Sputnik is the general information partner of the forum.