ST. PETERSBURG, June 5. /TASS/. Despite continued pressure, Russia has managed to expand its "room for maneuver" thanks to new partners and new financial and technological solutions, Russian President Vladimir Putin said.

"In fact, a system of dependency and resource extraction was created to punish those who decided to act in their own national interests. And today the overwhelming majority of countries recognize this. Entrepreneurs, banks, industrial companies, farmers, and transport operators all see this. It has become evident that investment plans and steps toward business development face serious risks. Namely, that the external infrastructure they rely upon could be used against them. That is why countries are beginning to develop their own technological solutions, create their own supply routes, and establish their own institutions. Russia fully feels these changes. Pressure on our country continues, but at the same time, we now have more room for maneuver, new partnerships, new financial and technological solutions, and we are entering more promising markets," he said at a plenary session of the St. Petersburg International Economic Forum (SPIEF).

So, according to the president, Russia views the ongoing global changes not only as a threat, but as colossal opportunities and is trying to act swiftly and pragmatically make use of them.

The current turbulence is rooted in the transition from the vertical hierarchical model serving the interests of individual states to a more complex multipolar one, he explained.

The president noted that, first and foremost, the structure of growth is shifting in favor of new centers of development in the countries of the global South. "This, dear colleagues, is something you yourselves can clearly see and know. This is not a mere statement, but an objective reality. After all, in the countries I am referring to, the population is growing, a middle class is forming, industry is developing, and the domestic market is expanding. This means that cities, roads, ports, and energy and digital networks are being built. Their own financial, educational, and scientific and technological centers are emerging," he said.

The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. This year, the event is held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

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