Russia redirects 80% of energy exports to allied nations

Russia has successfully redirected approximately 80 per cent of its energy exports to allied markets, primarily in the Asian-Pacific, African, and Latin American regions, TASS reported on Thursday citing Deputy Prime Minister Alexander Novak.

This strategic shift, which took place over the last two years, was highlighted by Novak at the St. Petersburg International Economic Forum (SPIEF). He emphasised the successful development of Russia’s diversification strategy and the ongoing projects aimed at expanding infrastructure capacities across various directions.

The SPIEF, which runs from June 5-8, focuses on “The Formation of New Areas of Growth as the Cornerstone of a Multipolar World.”

The forum features events for small and medium-sized businesses (SMEs) and creative industries and includes SPIEF Youth Day, as well as forums on drug security, SPIEF Academy, and SPIEF Junior.

Organised by the Roscongress Foundation, with TASS as the information partner, the event underscores Russia’s commitment to fostering new growth areas in a rapidly evolving global landscape.