Russia will prioritise economic stability

Significance

The event typically serves as a barometer of economic confidence in Russia. Last year, few significant deals were announced, and foreign delegates were fewer in number than usual. This year, the message was that the Kremlin will focus on ensuring economic stability in a time of geopolitical turbulence rather than wide-ranging reforms.

Impacts

• Kremlin will continue to hope and gamble on a return to high oil prices.
• Russia will retaliate against the continuation of EU sanctions decided on June 22 with an agriculture import ban.
• Speculation will grow over former finance minister Alexei Kudrin's possible return to politics as prime minister.