SPIEF 2025: Russia's pivotal role in a rapidly changing world order
Russia has held SPIEF annually since 1997, under the auspices of the office of Russian President, Vladimir Putin, who has attended every edition.
Image: Alexei Danichev/Sputnik
THIS week, Russia is hosting about 20 000 participants from more than 170 countries to the 28th edition of the St Petersburg International Economic Forum (SPIEF). The theme of SPIEF 2025 is: Shared Values: The Foundation of Growth in a Multipolar World.
Russia has held SPIEF annually since 1997. It is held under the auspices of the office of the Russian President, Vladimir Putin, who has attended every edition of SPIEF. The business mega event is Russia's flagship programme, and crucially, it results in multibillion-dollar deals entered into by international businesses that participate with their Russian counterparts. SPIEF is regarded as one of the biggest and most important business masterclasses in the world.
Last year alone, about 21 800 participants from 139 countries took part. A total of 1 073 agreements totalling Russian Rubles to the tune of 6 492 trillion were signed last year alone. In fact, SPIEF has grown so popular that Roscongress, the organisers, had to agree to a certain degree of online participation by those unable to physically be at the St Petersburg venue.
South Africa's participation at this year's SPIEF was led by the Deputy President Paul Mashatile, accompanied by an eight-member ministerial entourage led by Parks Tau, Minister of the Department of Trade, Industry and Commerce. Business is represented by Elias Monage, president of the Black Business Council.
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Attending SPIEF 2025, it is incredible to watch the daily camaraderie and general atmosphere of conviviality among throngs of business gurus and political heavyweights as they shake hands on hundreds of podiums and pose for photographs holding pictures of files depicting sealed deals.
Roscongress Foundation, Russia's state-owned leading enterprise in charge of events and international partnerships development, explains as follows: 'SPIEF offers an unrivalled space for dialogue and forging business ties. It provides an opportunity to find partners with the aim of securing business growth in Russia and abroad.'
Speaking to the media during one of the many briefings at SPIEF, Russian Foreign Ministry spokesperson Maria Zakharova highlighted the growing interest from Latin America and the Global South in general to forge tighter business ties with Russia. She elaborated: 'They see open opportunities. The European businesses have partially left, and American companies have been blocked from working with Russian partners for years. Now, they see the commercial benefit, the prospects, and the resource base to support these opportunities.'
Furthermore, Zakharova said, the Global South was ready for true independence, seeking to diversify partnerships beyond one centre of power. 'A new era of equal, mutually beneficial relationships is emerging.'
Also on the sidelines of SPIEF, President Putin met with his Indonesian counterpart, Prabowo Subianto. Apart from thrashing out the path for Indonesia to join BRICS+, the two leaders signed a declaration on strategic partnership and signed another agreement to create a $2.2 billion Investment Fund effective immediately.
Indonesia is one of Russia's key partners in the Asia-Pacific region. 'Indonesia's inclusion in BRICS,' according to the Kremlin, 'will bring significant added value to the group's development.
All nine current members of BRICS+ are present at SPIEF 2025. The Gulf regions are also visible, with their participation rapidly growing with every passing year. This year, Bahrain has been awarded the status of the 'guest of honour' at SPIEF. With Russia under Western sanctions over the last three years since the outbreak of the war in Ukraine, attention has sharply turned to the Global South bloc, which has steadfastly refused to join the West in its war with Russia.
Also speaking at SPIEF 2025, Indian tycoon Sammy Kotwani, who is also the founder of Imperial Tailoring Company, said the thousands of businesses participating at the conference were largely guided by the same ethos, which is that 'Business is about profits.' He indicated the appetite to lead Indian businesses to invest in one of Russia's newest regions — Donbass. 'If there's an opportunity,' he said in an interview with Sputnik, 'Indian companies should look for where they can make money, whether it's in Donbass or Kaliningrad.'
Also reporting in the Russian news outlet Sputnik at SPIEF 2025, journalist Ishteak Hamdani reflected on the past years of covering SPIEF, saying: 'Year after year, the forum continues to achieve great things. The participation has grown. Countries like Pakistan, Latin America as a whole, Africa and Asia are now fully engaged. It is clear that SPIEF is becoming more crucial for global dialogue and progress.'
SPIEF undoubtedly serves as a catalyst for Russia to circumvent efforts by the West to isolate Russia. The airports are busy as normal, and even tourism, aided by visitors from the Global South, is booming. The shops are well-stocked with Russian-produced goods, signifying the value and importance of an economy that is largely self-reliant.
During Q&As at various press conferences, curiosity over the Russia-West standoff creeps up, and how and when it is likely to be resolved.
Alexander Stuglev, the chairman of the Board and chief executive of SPIEF, said that although he was reluctant to delve into political commentary, it was his considered opinion that relations with the West would require extraordinary effort to repair.
He said the trust deficit had grown beyond measure, and in the meantime, Russians have readjusted their way of life to look away from the West. The growth of the Russian economy amidst the climate of Western sanctions, demonstrated by a stronger ruble, points to a better life after the West had left.
Russia's gas pipelines, Nord Stream 1 and 2, which supplied oil and gas to Europe via Germany, had been lying in a moribund state since the sanctions. In fact, the Ukrainians had bombed Nord Stream 2, although no one has been held accountable so far.
Gazprom, Russia's state-owned oil and gas company, says Europeans by Russian oil and gas behind each other's backs. But more openly, the EU member-states are known to buy Russian oil and gas via a third party in the form of India. The EU calls it 'Indian oil and gas', although India is not known to produce such products.
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IOL News
8 hours ago
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SPIEF 2025: Russia's pivotal role in a rapidly changing world order
Russia has held SPIEF annually since 1997, under the auspices of the office of Russian President, Vladimir Putin, who has attended every edition. Image: Alexei Danichev/Sputnik THIS week, Russia is hosting about 20 000 participants from more than 170 countries to the 28th edition of the St Petersburg International Economic Forum (SPIEF). The theme of SPIEF 2025 is: Shared Values: The Foundation of Growth in a Multipolar World. Russia has held SPIEF annually since 1997. It is held under the auspices of the office of the Russian President, Vladimir Putin, who has attended every edition of SPIEF. The business mega event is Russia's flagship programme, and crucially, it results in multibillion-dollar deals entered into by international businesses that participate with their Russian counterparts. SPIEF is regarded as one of the biggest and most important business masterclasses in the world. Last year alone, about 21 800 participants from 139 countries took part. A total of 1 073 agreements totalling Russian Rubles to the tune of 6 492 trillion were signed last year alone. In fact, SPIEF has grown so popular that Roscongress, the organisers, had to agree to a certain degree of online participation by those unable to physically be at the St Petersburg venue. South Africa's participation at this year's SPIEF was led by the Deputy President Paul Mashatile, accompanied by an eight-member ministerial entourage led by Parks Tau, Minister of the Department of Trade, Industry and Commerce. Business is represented by Elias Monage, president of the Black Business Council. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading Attending SPIEF 2025, it is incredible to watch the daily camaraderie and general atmosphere of conviviality among throngs of business gurus and political heavyweights as they shake hands on hundreds of podiums and pose for photographs holding pictures of files depicting sealed deals. Roscongress Foundation, Russia's state-owned leading enterprise in charge of events and international partnerships development, explains as follows: 'SPIEF offers an unrivalled space for dialogue and forging business ties. It provides an opportunity to find partners with the aim of securing business growth in Russia and abroad.' Speaking to the media during one of the many briefings at SPIEF, Russian Foreign Ministry spokesperson Maria Zakharova highlighted the growing interest from Latin America and the Global South in general to forge tighter business ties with Russia. She elaborated: 'They see open opportunities. The European businesses have partially left, and American companies have been blocked from working with Russian partners for years. Now, they see the commercial benefit, the prospects, and the resource base to support these opportunities.' Furthermore, Zakharova said, the Global South was ready for true independence, seeking to diversify partnerships beyond one centre of power. 'A new era of equal, mutually beneficial relationships is emerging.' Also on the sidelines of SPIEF, President Putin met with his Indonesian counterpart, Prabowo Subianto. Apart from thrashing out the path for Indonesia to join BRICS+, the two leaders signed a declaration on strategic partnership and signed another agreement to create a $2.2 billion Investment Fund effective immediately. Indonesia is one of Russia's key partners in the Asia-Pacific region. 'Indonesia's inclusion in BRICS,' according to the Kremlin, 'will bring significant added value to the group's development. All nine current members of BRICS+ are present at SPIEF 2025. The Gulf regions are also visible, with their participation rapidly growing with every passing year. This year, Bahrain has been awarded the status of the 'guest of honour' at SPIEF. With Russia under Western sanctions over the last three years since the outbreak of the war in Ukraine, attention has sharply turned to the Global South bloc, which has steadfastly refused to join the West in its war with Russia. Also speaking at SPIEF 2025, Indian tycoon Sammy Kotwani, who is also the founder of Imperial Tailoring Company, said the thousands of businesses participating at the conference were largely guided by the same ethos, which is that 'Business is about profits.' He indicated the appetite to lead Indian businesses to invest in one of Russia's newest regions — Donbass. 'If there's an opportunity,' he said in an interview with Sputnik, 'Indian companies should look for where they can make money, whether it's in Donbass or Kaliningrad.' Also reporting in the Russian news outlet Sputnik at SPIEF 2025, journalist Ishteak Hamdani reflected on the past years of covering SPIEF, saying: 'Year after year, the forum continues to achieve great things. The participation has grown. Countries like Pakistan, Latin America as a whole, Africa and Asia are now fully engaged. It is clear that SPIEF is becoming more crucial for global dialogue and progress.' SPIEF undoubtedly serves as a catalyst for Russia to circumvent efforts by the West to isolate Russia. The airports are busy as normal, and even tourism, aided by visitors from the Global South, is booming. The shops are well-stocked with Russian-produced goods, signifying the value and importance of an economy that is largely self-reliant. During Q&As at various press conferences, curiosity over the Russia-West standoff creeps up, and how and when it is likely to be resolved. Alexander Stuglev, the chairman of the Board and chief executive of SPIEF, said that although he was reluctant to delve into political commentary, it was his considered opinion that relations with the West would require extraordinary effort to repair. He said the trust deficit had grown beyond measure, and in the meantime, Russians have readjusted their way of life to look away from the West. The growth of the Russian economy amidst the climate of Western sanctions, demonstrated by a stronger ruble, points to a better life after the West had left. Russia's gas pipelines, Nord Stream 1 and 2, which supplied oil and gas to Europe via Germany, had been lying in a moribund state since the sanctions. In fact, the Ukrainians had bombed Nord Stream 2, although no one has been held accountable so far. Gazprom, Russia's state-owned oil and gas company, says Europeans by Russian oil and gas behind each other's backs. But more openly, the EU member-states are known to buy Russian oil and gas via a third party in the form of India. The EU calls it 'Indian oil and gas', although India is not known to produce such products.
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Ukrainian military intelligence is reportedly conducting covert operations in South Africa, raising serious questions about the implications for national sovereignty and international relations. Image: IOL / Ron AI Last week I reported that Ukrainian military intelligence operatives are conducting clandestine activities in South Africa. Surveillance. Disruption of Russian linked logistics. Plans to attack Russian naval presence in Cape Town. These actions are carried out by GUR agents, foreign military operatives with protected diplomatic status, made legal under a visa agreement quietly ushered in by Democratic Alliance (DA) Minister Leon Schreiber in late 2024. The story broke through veteran Washington Post columnist David Ignatius. His article was not just a piece of reporting. It functioned as an official communique from the heart of the United States intelligence apparatus. Ignatius has long served as a narrative conduit for the CIA and Pentagon. When he singles out South Africa in an exposé about Ukrainian covert war, the implications are pointed. Yet the reaction from South Africa's leadership has been to bury their heads in the sand. No word from President Cyril Ramaphosa. No inquiry from Parliament. No comment from Minister of State Security Khumbudzo Ntshavheni. No diplomatic protest from Minister of International Relations and Cooperation Ronald Lamola. No explanation from Leon Schreiber, Minister of Home Affairs, a department now compromised by Democratic Alliance control. And so the questions remain. Who authorised the presence of a foreign military intelligence force in South Africa? What role did Ramaphosa play in allowing Ukraine to wage shadow warfare from our territory? Why has the state avoided even a minimal response? The GUR claimed they tracked the Lady R to Simon's Town in 2022 and alleged that arms were being transferred to Russia. They admitted to interfering with a Russian cargo flight and acknowledged that their agents contemplated an attack on the Smolnyy, a Russian naval ship docked in Cape Town. These are acts of hostility against a BRICS partner. They were conducted from within our borders. And they have gone unchallenged by the executive. The silence is coordinated. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading GUR chief Kyrylo Budanov has publicly declared Ukraine's mission to target Russian assets globally. He posed a rhetorical question to Ignatius: 'Why should Africa be an exception?' It wasn't a question. It was a threat veiled in smug certainty, certainty that the West's sphere of influence now includes South Africa. Ignatius's article performs a layered function. To Pretoria: You are being monitored. Your diplomatic alignments are under audit. The so called 'non aligned' position is seen as defiance, and defiance has consequences. To Moscow: Your partners are compromised. Your alliances in Africa are penetrable. Your backchannels can be severed at will. To Kyiv: Celebrate your reach, but stay within boundaries. The failed attempt to strike the Smolnyy is mentioned, but the narrative steers blame away from Washington. The mission was conceived in Kyiv, not coordinated through Langley. Deniability remains intact. Ignatius uses his platform to draw the blueprint for a global dirty war, a campaign of psychological and covert disruption dressed up as proactive defence. The framing legitimises a foreign military's activities in sovereign countries far from the battlefield. Africa is presented as free territory for geopolitical experimentation. Nowhere in his column does Ignatius interrogate the legality of these actions. He valorises GUR strikes in Mali and Central African Republic, including a drone attack that reportedly killed over 130 people. This is terrorism, not liberation. It is framed as righteous because it aligns with United States foreign policy. The Gaze, a Kyiv based media outlet tightly aligned with Ukrainian government messaging, amplified the South African aspects of the Ignatius story almost immediately. Its coverage read like a warning to Pretoria. The timing points to a coordinated narrative campaign, not a random editorial interest in Africa. The deeper objective becomes clear: push South Africa further from BRICS and closer to North Atlantic Treaty Organization (NATO) interests. Discredit its partnerships. Isolate its diplomatic independence. Expose the African National Congress (ANC)'s internal fractures and accelerate its ideological collapse. Mali Has Severed Diplomatic Ties With Ukraine And is Now Set To Ban Ukrainian Goods From Entering The Country. The decision follows allegations of Ukraine's intelligence support to rēbel groups behind several attācks on Malian Troops and Russian Wagner forces. — Africa Archives (@AfricaArchives_) June 17, 2025 Ramaphosa's silence is more than evasion. It may point to collaboration. His grooming by corporate capital in the 1970s positioned him as a long game candidate for imperial management. Phala Phala exposed a man entangled in quiet deals and unaccountable wealth. His presidency survives scandals that would sink others, because he remains useful. And with each silent concession, the idea of an ANC government dies a little more. The visa exemptions that granted Ukrainian agents access to our soil were signed under a Democratic Alliance controlled ministry. They became active under Ramaphosa's watch. There has been no reassessment of that agreement. No attempt to vet or restrict those entering. No safeguards against abuse. If Ukraine uses South African territory to target Russia, Pretoria becomes complicit. Under the United Nations Charter, this constitutes a breach of international peace. The consequences will not only be diplomatic. They will be structural. South Africa will be recast as a proxy zone in NATO's extended theatre. Its voice on global platforms will carry less weight. Its people will pay the price for elite submission. The Black working class has already seen how white capital benefits from chaos. Under a Democratic Alliance led administration, land reform will stall. Redistribution will be erased. Afrocentric education will vanish. Political resistance will be criminalised under new definitions of extremism. What was claimed back after apartheid will be recolonised before decolonisation ever begins. Black political movements—the Economic Freedom Fighters (EFF), uMkhonto weSizwe Party (MK), African Transformation Movement (ATM), and others—must see this moment clearly. Fragmentation will ensure the fall. A revolutionary coalition must form, rooted in sovereignty and grounded in anti imperialist clarity. Otherwise, we hand our country to NATO's security architecture wrapped in DA branding. South Africa has become a chessboard. The pawns are moving. The king remains silent. The war has arrived quietly. And our government let it in with both hands. Ukrainian military intelligence is reportedly conducting covert operations in South Africa, raising serious questions about the implications for national sovereignty and international relations. Image: IOL
