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Eastern Economic Forum – the 11th edition to open on Russky Island on September 1. More than 5,000 participants from over 70 countries and territories will attend the Forum over the course of four days, September 1–4. The theme of the 11th EEF is set to be “The Far East: Development for the Benefit of the People.”
Participants from China, India, Mongolia, Japan, South Korea and other ASEAN countries attended the Eastern Economic Forum in Vladivostok, in what has become a habitual practice for Russia. The country’s economic pivot to the East has long ago ceased to be a temporary measure aimed at circumventing Western sanctions, and has become a structural component of Russia’s economy. The biggest delegation to the forum was led by Chinese Vice Premier Ding Xuexiang.
While Russian officials and representatives of shipping companies are eager to market the Northern Sea Route as an alternative to the Suez Canal — given that the Strait of Hormuz is currently operating at only 3-5% of its pre-war capacity — actually making it work on a large scale would be a major transformation of the global network of shipping lanes, none of which currently pass through chokepoints under military control by the United States.
There was no progress on the long-stalled Power of Siberia-2 natural gas pipeline project when Russian President Vladimir Putin again pressed Chinese President Xi Jinping for a deal on the project during their bilateral talks at the Shanghai Cooperation Organization (SCO) summit in Bishkek earlier this week. According to reports from Time.news and various other European outlets, Beijing remains hesitant over Moscow’s proposals on pricing for the new pipeline. No announcement on a deal was made at the opening of the Eastern Economic Forum.
Russia’s Foreign Ministry spokeswoman Maria Zakharova held a special press conference on the EEF sidelines and compared Western media reports on Russia’s alleged economic isolation to “fairy-tales.” She pointed out that 70-plus countries attended the Vladivostok forum — a country under the toughest sanctions regime in modern history.
On September 3, within the framework of the EEF plenary session, Putin will speak, followed by Indonesian President Prabowo Subianto and Mongolian Prime Minister Nyam-Osoryn Uchral. More than 100 business sessions covering energy investment, Arctic infrastructure, and digital connectivity are scheduled over the four-day forum, reported TASS.
