Results of SPIEF-2021

The 23rd St. Petersburg International Economic Forum (SPIEF-2021) is being held from 2 to 5 June. The main deals and statements of the participants are in the compilation of Kommersant.

Transactions

  • NOVATEK and Chinese Zhejiang Energy signed the basic terms of an agreement on the supply to China of up to 1 million tons of liquefied natural gas per year from the Arctic LNG-2 project for 15 years. The agreement was signed by Novatek’s 100% subsidiary Novatek Gas & Power Asia Pte. Ltd. and a subsidiary of Zhejiang Provincial Energy Group – Zhejiang Energy Gas Group Co., Ltd.
  • “Russian platinum”, VEB and VTB signed a memorandum on the Chernogorskoye field in the Krasnoyarsk Territory. Total investment in the project will amount to RUB 570 billion.
  • Qatar bought 24.9% of the Western High-Speed ​​Diameter road project in St. Petersburg.
  • Mikhailovsky HBI, created by the USM group of Alisher Usmanov and Mikhailovsky GOK (part of also owned by Mr. Usmanov Metalloinvest), will receive a loan from Sberbank for $ 620 million for the construction of a plant for the production of hot briquetted iron in the Kursk region.
  • Metalloinvest invests 160 billion rubles. in the “green” metallurgy. The corresponding agreement was signed by the company and the government of the Belgorod region.
  • NLMK will invest 250 billion rubles. in the construction of a new mining and metallurgical production on the basis of the company’s Stoilensky GOK in the Belgorod region.
  • “Russian ecological operator” (REO), a public organization “Business Russia” and company RT-Invest signed a document on the abandonment of landfills. By 2035, Russian million-plus cities and resorts will completely abandon waste disposal at landfills.
  • Company Network International LCC, the market leader in e-commerce in the Middle East and Africa, has signed an agreement with the Russian payment system “Peace”… Mir cards will be accepted in the United Arab Emirates.
  • Russian export center (REC) and Alibaba signed a memorandum on the promotion of Russian goods on Alibaba sites.
  • State company Avtodor signed agreements with MTS, “Megafon” and VimpelCom about high-speed mobile communications along federal high-speed toll highways.
  • RDIF signed a construction agreement in Bahrain enterprises for the production of “Sputnik V”. The vaccine produced there will go to the countries of the Middle East and North Africa.
  • VTB signed a commercial partnership agreement with the National Bank of Qatar
  • The M-11 Neva highway will become the first unmanned logistics corridor in the Russian Federation until 2024. Ministry of Transport of the Russian Federation signed a corresponding agreement with a number of companies
  • Gazprombank, VEB.RF and Russian Agency for Export Credit and Investment Insurance (EXIAR) are considering the possibility of providing up to $ 800 million for the construction of a gas chemical complex in Uzbekistan… The corresponding agreement was signed with one of the largest oil and gas companies in Uzbekistan – Jizzakh Petroleum


Statements

Photo: Dmitry Azarov, Kommersant

President of Russia Vladimir Putin: The laying of the first thread of the Nord Stream 2 was completed; preferential mortgage extended until July 1, 2022 with a rate increase to 7%; by the end of June, it is necessary to work out the possibility of paid vaccination against coronavirus for foreigners; catering companies with revenues of up to 2 billion rubles. will be exempt from VAT.

Speech by Vladimir Putin at SPIEF-2021. the main thing

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Photo: Alexander Petrosyan, Kommersant

Finance Minister Anton Siluanov believes that the growth of inflation in Russia (now about 5.9%) indicates overheating and is a signal for the normalization of fiscal and monetary policy, and normalization should be rapid. “Where it leads? Depreciation of expenses, devaluation of money, social payments, salaries. Is this what we want? No, ”he said.

Also, according to Mr. Siluanov, within a month Russia will give up the dollar as part of the National Welfare Fund (NWF). The share of the dollar in the NWF will be reduced to zero from 35%, the shares of the euro and the yuan will be increased to 40% and 30%, respectively.


Photo: Gleb Shchelkunov, Kommersant

Head of the Central Bank Elvira Nabiullina stated that heightened inflation in Russia is becoming sustainable. The acceleration of inflation in Russia was preceded by temporary factors – an increase in world prices for food, raw materials and exchange goods, the effect of a weakening of the exchange rate. The acceleration of inflation, she said, will hinder economic growth. “We will run the risk of overclocking and then a sharp decline. We need sustainable economic growth, consistently low inflation, ”Ms Nabiullina emphasized.


Photo: Alexander Demyanchuk / TASS photo host agency

Ombudsman for small and medium-sized businesses and founder of the AnderSon cafe chain Anastasia Tatulova criticized government policies on SMEs, complaining about insecurity, multiple checks and high taxes. “First they called me and said that Dima Bogdanov had been put in a pre-trial detention center. After that, they called me and said that Moscow had made a decision that there would be a single operator for garbage, so the tariffs were raised fivefold. And against the backdrop of all this, I heard about small and medium-sized businesses, as three very handsome men told how everything would be fine. And I just live in a different world, I guess I live with them, ”she said at the beginning of her speech.


Photo: Ivan Petrov, Kommersant

VEB.RF Group plans to allocate RUB 3 trillion to support the Russian economy by 2022. According to the head of the state corporation Igor Shuvalov, within the framework of the new strategy, VEB.RF wants to increase support for the country’s economy by 70%: “If we, together with commercial banks, provided support for 10 trillion rubles over the previous four years, in support I mean lending and guarantees, then we believe that in the next four years we will be able to work out, our business ambition, the amount is 70% more, that is, almost double over the same period of time. “


Photo: Gleb Shchelkunov, Kommersant

The environmental fee from manufacturers of almost any packaging will be increased, said the special representative of the President of the Russian Federation for environmental protection, ecology and transport Sergey Ivanov… “I assure you that we will not wash, so by skating we will very quickly adopt the law on EPR for packaging,” said Mr. Ivanov.


Photo: Alexander Petrosyan, Kommersant

Head of the Duma Committee on Budget and Taxes, United Russia Andrey Makarov criticized the situation with the investment climate in Russia. “It is impossible to live permanently on state investments, and there will be no private investments if there is no investment climate. Here we are on the third day of the forum – no one has been arrested yet, already a success, ”he said at a business breakfast at Sberbank.


Photo: Gleb Shchelkunov, Kommersant

Mayor of Moscow Sergei Sobyanin reported that there are no plans to introduce additional restrictions in the capital in connection with the coronavirus. In his opinion, the healthcare system is working steadily in Moscow. “You see that for a whole year we have actually not introduced serious lockdowns, restrictive measures, the entire economy is working, we will continue in the same spirit,” said Mr. Sobyanin.


Photo: Alexander Kazakov, Kommersant

Businessman Oleg Deripaska believes that the bond market in Russia is too narrow, which is why Russians are becoming “slaves of banks.” He also noted that the opposition destroyed itself. “We actually have ten years of stability now,” he said. – The opposition tried to consolidate, stepped forward and blew itself up. Now we have no opposition and we can get down to business. “


Photo: Ivan Petrov, Kommersant

Official representative of the Ministry of Foreign Affairs of the Russian Federation Maria Zakharova said she was not aware of the situation with VTimes, which announced on Thursday that it would be closed due to the inclusion of the Ministry of Justice in the list of foreign agents. “Because of which? Have their sponsors gone? So ask the sponsors why they don’t want to fund this media. Maybe they are embarrassed that this media has slightly different sources of income, which they will now be obliged to present to the whole world? Maybe sponsors don’t want to be associated with these sources of income? ” – asked Mrs. Zakharova. She stressed that the closure of the publication is “not a question that the state somehow restricts the activities of this media outlet.”


Photo: Alexander Miridonov, Kommersant

Head of Rosselkhoznadzor Sergey Dankvert stated that Russia is completely dependent on the import of chicken eggs, which are needed for the production of vaccines. According to him, for the manufacture of vaccines – including against coronavirus and against influenza – eggs are needed free of pathogenic microflora, but there are no factories producing such eggs in Russia.


Expectations

  • Head of the Ministry of Energy Nikolay Shulginov considers it unlikely that the price of oil in the next three years will reach $ 100 per barrel. He predicts the price in the region of $ 50-60.
  • Head of Rosneft Igor Sechin believes that the demand for oil will recover “as large-scale vaccinations and the decrease in the impact of the pandemic on the global economy.” He estimated the need for investments by 2040 to maintain the current level of oil production in the world at $ 17 trillion. In his opinion, the industry may face the problems of an acute shortage of oil and gas if companies refuse to invest in new fields.
  • Deputy Chairman of the Board of Sberbank Anatoly Popov expects growth in corporate lending in Russia by 9-10%.
  • General Director of the Russian Environmental Operator (REO) Denis Butsaev said that in 2022 in seven regions there will be a network of 10 thousand fandomats (devices for receiving in exchange for bonuses of used plastic and glass bottles, as well as aluminum cans).
  • Head of the Ministry of Economy Maxim Reshetnikov stated that the Russian economy will recover to the level of the IV quarter of 2019 in June-July 2021.
  • President, Chairman of the Board of Sberbank German Gref predicted inflation in Russia in 2021 at 6%.
  • He also said that Sberbank would not forgive rudeness towards clients. “If a person made a mistake, damaged my business and lost some money, we will forgive him, we will teach him. This is a normal story – a mistake. But if he does not correspond to our values ​​- he was naughty to the client, forced the client to leave, then we will not forgive him, this person will be fired, ”said Mr. Gref.
  • CEO of Aeroflot Mikhail Poluboyarinov said the company does not expect an increase in airfare amid the pandemic.
  • Assistant to the President for Economic Affairs Maxim Oreshkin within 10-15 years expects a “serious revolution” in Russian health care.