Russia to sign seven deals with Global South countries, presidential envoy confirms

The Russian Direct Investment Fund (RDIF) will sign seven agreements with countries of the Global South at the St. Petersburg International Economic Forum (SPIEF) in the fields of IT, agriculture, and other industries, Kirill Dmitriev, Russia’s presidential envoy for investment and economic cooperation with foreign countries and CEO of RDIF, told journalists at the forum.

“Regarding the Russian Direct Investment Fund, we will sign seven agreements with countries of the Global South, including high technologies, the agricultural sector, infrastructure, and many key investment areas. We also note that we continue active cooperation with Arab partners, Middle Eastern partners, and partners from Asian countries. We have more than 60 joint projects with the UAE, more than 55 with Saudi Arabia, more than 60 with China, and we continue these active investments with many other countries,” he said.

Dmitriev also noted that Saudi Arabia will have a significant presence at SPIEF 2026.

“Developing relations with Saudi Arabia is extremely important for Russia. We have many joint successes, including the OPEC deal, which helped stabilise global prices, supply and demand in energy markets. We have many joint investments with Saudi Arabia, including in infrastructure. Saudi Arabia will be represented at this forum at a very high level. The Saudi energy minister, Prince Abdulaziz bin Salman Al Saud, will be there. And of course, Russia will continue to build constructive relations with Saudi Arabia,” he added.

Separately, the envoy claimed that European countries have lost around €3 trillion due to abandoning Russian energy, saying this is pushing their economies toward collapse.

“Germany and other European countries see that by abandoning Russian energy, they have already lost around €3 trillion and are effectively driving their economies into collapse. Therefore, it is important that constructive European forces and politicians will be present [at SPIEF]. We will also hold a meeting and panel discussion with a representative of the German party Alternative for Germany, which also advocates restoring Nord Stream and rebuilding a partnership with Russia,” Dmitriev stressed.

The St. Petersburg International Economic Forum is being held from June 3 to 6 under the theme “Pragmatic Dialogue: The Path to a Stable Future.” The program focuses on shaping a new model of global development amid the transformation of the world economy.

By Jeyhun Aghazada