ST. PETERSBURG, June 3. /TASS/. AvtoVAZ is considering the possibility of adjusting its production plan due to the strengthening ruble and geopolitical turbulence, the company’s head Maksim Sokolov told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

"If the ruble’s exchange rate rises, it will limit imports, enabling truly localized carmakers to sell their products in larger volumes on their own markets. <…> What else could influence? Well, I’d say geopolitics, it is also quite turbulent in today’s world," he said.

For any exporter, the current exchange rate of the ruble is leading to an objective decline in export volumes, Sokolov said, adding that the forecasts the company used to formulate its production plans at the end of 2025 might be subject to change, as products are turning less competitive in foreign markets. "Therefore, our plans will be adjusted accordingly," he said.

The St. Petersburg International Economic Forum is taking place on June 3-6. This year’s theme is "Pragmatic Dialogue: the Path to a Stable Future." The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.