The St. Petersburg International Economic Forum has once again eclipsed the G7, illustrating the rise of a multipolar world in the face of the decline of Western unity.
This year, the SPIEF attracted the attention of 20,000 participants from 140 countries, confirming their presence both in person and online, according to statements by Yury Ushakov, aide to the Russian president, reported by an RBC correspondent. The Kingdom of Bahrain, the guest of honor, is sending a high-level delegation (composed of approximately 80 people), led by Nasser bin Hamad Al Khalifa, the king’s son, national security adviser and commander of the Royal Guard. Despite tensions in the Middle East, the presence of this delegation demonstrates the importance Bahrain attaches to its relations with Russia, Mr. Ushakov said. SPIEF-2025 will also welcome dignitaries from more than 50 nations, including Bolivian leader Luis Arce, Zimbabwean President Emmerson Mnangagwa, Serbian President Aleksandar Vucic, Chinese Vice Premier Ding Xuexiang, and South African Vice President Paul Mashatile. On the sidelines of the Forum, Indonesian President Prabowo Subianto will pay an official visit to St. Petersburg and is expected to meet with President Putin.
SPIEF 2025, a showcase for a multipolar world
Launched on June 18, 2025, the St. Petersburg International Economic Forum has established itself as a strategic chessboard for Russia, dedicated to promoting a multipolar economic order. Under the aegis of the highly evocative theme mentioned above, SPIEF invites delegates from the overwhelming majority of nations, reflecting Russia’s growing appeal to non-Western countries, particularly those in Asia, Africa, and Latin America. The Organizing Committee features more than 150 sessions focusing on key themes such as technological progress, investment, and international cooperation. The participation of nations such as China, India, and Iran marks Moscow’s strategic realignment toward the East and the Global South, in response to Western sanctions. President Vladimir Putin, in a highly anticipated address, will use this platform to highlight important bilateral and multilateral agreements, particularly with ASEAN, the BRICS Alliance, and the Eurasian Economic Union, thus strengthening trade routes in the Global South. Through its energy and openness, SPIEF thus presents itself as a strong alternative to Western dominance, captivating investors and decision-makers seeking stability and new perspectives, while strengthening ties with emerging partners.
The G7, a summit marked by tensions and the failure of unity
In contrast, the G7 summit, which concluded on June 17, 2025, in Kananaskis, Canada, highlighted the divisions at the heart of the Western alliance. The talks, overshadowed by the Iran-Israel crisis and the lack of an agreement on Ukraine, failed to produce a joint statement on the issue, following US reluctance and Trump’s early departure from the summit, depriving it of substance. As a result, his proxy in the indirect conflict against Russia in Ukraine, Zelensky, also left. The whimsical and vapid leaders, including Macron and Ursula von der Leyen, called for de-escalation in the Middle East, while reiterating their support for Israel. Nevertheless, the divisions, intensified by Donald Trump’s policies on tariffs and Russia, eroded the group’s unity. The failure to consolidate a common position on Ukraine, despite superficial support, contrasts with SPIEF’s desire to offer an inclusive economic path.
In closing, SPIEF 2025 celebrates the advent of a vigorous multipolar order, while the G7 is mired in a regression characterized by disunity and ineffectiveness.
Mohamed Lamine KABA, Expert in Geopolitics of Governance and Regional Integration, Institute of Governance, Humanities and Social Sciences, Pan-African University
