ST. PETERSBURG, June 5. /TASS/. Sanctions imposed against Russia have, on the contrary, helped the country develop its own competencies, Russian President Vladimir Putin said at the plenary session of the St. Petersburg International Economic Forum (SPIEF-2026).

"There is much to discuss here. In some areas, sanctions created difficulties for us, but in others, on the contrary, they helped us develop our own competencies," the head of state noted.

"Of course, we're not abandoning future cooperation. Of course, there's still work to be done. Together with our partners from other countries, we'll achieve positive results," 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 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.