ST. PETERSBURG, June 14. /TASS/. The suspension of agreements with unfriendly countries will not affect double taxation norms, Russian State Secretary, Deputy Finance Minister Alexey Sazanov told reporters on Wednesday.

"Separate articles of agreement, not agreements themselves will be suspended, which is why the norms on avoidance of double taxation regarding individuals will persist. They are valid if an agreement has been concluded. Denunciation of those agreements is not planned, with articles suggesting reduced rates of taxes on interest and dividends to be suspended. The agreements themselves will remain in force and the norms on avoidance of double taxation will remain in force," he explained.

A respective proposal has been submitted by the government to the administration of the president, Sazanov added.

The 26th St. Petersburg International Economic Forum (SPIEF) - Russia’s showcase annual economic and business event - is being held on June 14-17. 'Sovereign Development as the Basis of a Just World: Joining Forces for Future Generations' is theme of this year’s forum. 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. In line with tradition, Russian President Vladimir Putin will address the plenary session of SPIEF on Friday.