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Russian economy has no gaps due to sanctions — Kremlin

"If some sectors are closed, others automatically open up and become more profitable," Dmitry Peskov said

MOSCOW, June 16. /TASS/. There are no gaps in the Russian economy due to sanctions, some areas are automatically filled by others, Russian Presidential Spokesman Dmitry Peskov said on Friday.

"We are certainly not isolated. There are no gaps here, there is no void in economic affairs. If some sectors are closed, others automatically open up and become more profitable," he said in an interview with Channel One.

Finance Minister Anton Siluanov said earlier that Russia is a part of the global economy and will not become isolated. "As before, Russia is a full participant in political discussions on key global issues. We are not trying and will not become isolated, we are part of the global economy and will continue this trend, adjusting only some directions. Nothing can be done if some relations with Russia deteriorate, we will expand our efforts, trade and investment with other nations," he said in an interview with CGTN TV channel.

Siluanov added that the New Development Bank (NDB), founded by BRICS (Brazil, Russia, India, China, and South Africa), operates outside of politics and Russia expects to continue implementing projects. "We are absolutely certain that the bank operates outside of politics to meet the needs of shareholders. We will continue to cooperate with the bank to ensure that the bank's project, investment, and credit operations in Russia continue despite any restrictions," he said.

The 26th St. Petersburg International Economic Forum (SPIEF) — Russia’s showcase annual economic and business event — is being held on June 14-17. The theme of this year’s forum is: "Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations." TASS is the official information partner of the event.

SPIEF’s expanded business program offers attendees the opportunity to participate in more than 140 sessions featuring over 1,000 moderators and speakers, according to event organizer Roscongress Foundation.

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Dmitry Peskov Trade & Cooperation SPIEF-2023

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