ST. PETERSBURG, June 5. /TASS/. Expensive oil is highly likely to influence inflation in leading economies of the globe, including the United States, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF).

"Right now, if oil prices remain on high, it is expensive, it will actually affect the entire chain of economic interaction. Most probably, it will influence inflation of the leading economies, including inflation in the United States. And this is the basic, absolutely fundamental condition of stability of the American currency," the Russian leader said.

The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. 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.