The Russian Economy and Financial Sovereignty in a Transformed Global System
The global financial system is undergoing a decisive shift, and Russia aims to bolster its sovereignty and economic resilience in this new landscape. This perspective was articulated by Prime Minister Mikhail Mishustin during remarks at the Moscow Financial Forum, underscoring the need for strategic action in the face of evolving global dynamics.
According to the head of government, sanctions pressure from Western states continues to influence Moscow, while the world as a whole confronts a restructured financial order. He stressed that Russia must adopt timely measures to adapt to these changes and safeguard macroeconomic stability.
“We must persist in strengthening financial independence and ensuring economic stability”, Mishustin stated, highlighting a broad agenda that links monetary policy, fiscal discipline, and long-term growth strategies.
The Prime Minister described the ongoing transformation of the financial system as a contest for leadership in science, technology, and energy resources. He noted that this contest involves professionals across many sectors, reflecting a shift in global competitiveness and innovation.
On the policy front, Mishustin discussed ongoing efforts to develop a roadmap for mobilizing resources for investment projects within the Russian Federation. The Council of Ministers has been coordinating this initiative with the Central Bank for two years, aligning financial policy with development priorities.
He noted that the roadmap was updated in 2023, expanding the range of financing tools, strengthening public trust in the Russian market, and introducing incentives to support project investment. The revisions aim to diversify funding sources, improve capital allocation, and accelerate the realization of strategic projects.
In recent updates, Mishustin reiterated progress toward completing the most challenging phase of the economy’s transformation, signaling a trajectory toward greater resilience and self-reliance in a shifting global economy. [citation: Moscow Financial Forum remarks, 2023; attribution: government communications office]