ST. PETERSBURG, June 16. /TASS/. Russia began to focus on the markets of Asia, Africa and Latin America long before the events in Ukraine, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"We began to focus on the markets of Asian countries, Africa and Latin America not yesterday, but long before the tragic events in Ukraine. Ling before. And why? Because the global economic trends are changing," he said.

Putin added that discounts on Russian oil vary for different markets, for some they are minimal. "Of course, these restrictions [on Russian oil prices - TASS] also have negative consequences for us. But there are different discounts for different markets. And in some cases, the discounts are minimal," 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.