Putin: Non-participation in Davos forum not to affect Russian role

SINGAPORE, Nov 15 (PRIME) -- Non-participation in the World Economic Forum in Davos will not affect Russia’s weight in the global economy, President Vladimir Putin told reporters on Thursday.

Prime Minister Dmitry Medvedev earlier said that the Russian delegation will not participate in the forum unless the restrictions against Russian businessmen Oleg Deripaska, Viktor Vekselberg and Andrei Kostin are removed.

Putin said, “This will surely not affect Russia’s reputation in the global economy. The weight of any country in the framework of the global economy first of all depends on economic capacity of a country, on the structure of its economy, the results that it demonstrates in terms of the technological intensity, the gross domestic product (GDP) rise, macroeconomic figures, I mean, a low level of inflation, a low foreign debt, the absence or a small budget deficit, and better even a surplus, like now.”

He said that Russian businessmen have the right to decide whether to participate in the forum.

Putin said that he had discussed the oil price situation with his U.S. counterpart Donald Trump during a meeting in Paris. “By the way, I have discussed this with President Trump in Paris, at least we talked about this. Lastly, over the last few years, the U.S. raised production significantly, and this obviously affects consumption in the country, in the U.S.”

Putin is preparing for a summit with Trump at the next G20 meeting in Argentina after receiving confirmation from U.S. Vice President Michael Pence, he said.

No sanctions can limit Russia’s partnership with the Association of Southeast Asian Nations (ASEAN) states and stop their economic development, Putin said

He also said that Russia is ready for full-fledged cooperation with Syria, and it will be beyond direct state investment.

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