Anastasia Likhacheva and Igor Makarov Speak at the Valdai Club Conference on Eurasian Economic Security
Igor Makarov moderated the session and, in his remarks, outlined the key strategies currently employed by Eurasian countries to strengthen their economic security. These include the development of alternative infrastructure, the diversification of trade and investment ties, and the reduction of external dependencies in strategically important sectors. According to him, presentations by experts from Uzbekistan, Russia, Iran and China clearly demonstrated how these approaches are being implemented at the national level.
In her presentation, Anastasia Likhacheva drew attention to the fundamental differences between contemporary Eurasia and Western countries, both historically and, to some extent, today. She noted that the Eurasian space still lacks a shared trust-based environment for savings. While alternative solutions in the sphere of payments are gradually emerging—ranging from national currencies to digital instruments—the savings function remains significantly more complex. Gold, she emphasised, continues to be the only universal asset of trust.
Under these conditions, Anastasia Likhacheva argued, the most realistic economic strategy for Eurasian countries in the foreseeable future is joint and cross-investment, primarily in real development projects. This approach offers a new perspective on economic security: financial "safety cushions" remain national, while development and trade become shared. Despite the complexity of this model, she concluded, no viable alternatives are currently in sight.
A video recording of the session is available via the link.