Russia has seen its crypto holdings blow past 2 trillion rubles, worth more than $25.4 billion as of June 2025. The information was delivered by Vasily Girya, CEO of GIS Mining while speaking at the St. Petersburg International Economic Forum (SPIEF 2025). Russian firms are making big mining orders, meaning that more capital is flowing into the country’s crypto infrastructure.
The SPIEF 2025 event ran from June 18 to 21 in St. Petersburg, with the theme: “Shared Values: The Foundation of Growth in a Multipolar World.” It was designed to push Russia’s global narrative, with the forum running multiple sessions. There was an SME Forum, where small and medium businesses showcased their services, and the Creative Industries Forum, built to support artists and media startups. Youth and future development had their slot with the Day of the Future International Youth Economic Forum.
In terms of policy, there was the Drug Security Forum and the Roscongress Urban Hub, a place for cities and planners to talk about policy and development. Outside these panels, there were events like the Petersburg Seasons festival and the SPIEF Sports Games to pad the cultural program. The Roscongress Foundation put the whole thing together, while TASS handled the information logistics.
Russia increases its crypto balance as Putin warns of conflicts and targeting
During one of the forum’s headline sessions, President Vladimir Putin said that Russia’s economy is still on the rise despite the sanctions. He said the country now ranks fourth in the world by GDP, and now number one in Europe. “Russia is already ranking fourth in the world in terms of gross domestic product. And it is Europe’s first. These are very significant indices,” Vladimir said at the event.
The discussion also took a global twist when Putin was asked about the rising conflicts in the world. The moderator specifically asked about the recent 80th anniversary of World War II, asking if another war could happen in recent days. “It worries me,” Putin said. “I am speaking without any sarcasm, without joking, of course, there is a lot of conflict potential, it is growing.” He pointed directly to Ukraine and the Middle East, saying the problems are happening “right under our noses.”
In the same forum, Maria Zakharova, the Foreign Ministry’s spokeswoman, said the real aim of Western economic aggression wasn’t just Russia, it was the European Union. “I am sure that one of the goals of this hybrid warfare is not only Russia but also the countries of the European Union,” Maria said. “The EU has grown too strong, and the euro is too secure. The euro is secure; the dollar is not. It was necessary to influence it somehow.” She also pointed to Asia’s economic rise, saying Western nations are falling behind and won’t catch up.