By The Moscow Times | Created at 2025-04-03 12:30:25 | Updated at 2025-04-04 07:27:40
19 hours ago
A number of U.S. companies have shown interest in attending Russia’s flagship St. Petersburg Economic Forum (SPIEF) this summer, its organizer said Thursday.
“Although the presence of American companies at the forum has declined since 2021, representatives of the U.S. business community continue to take part, and several companies are expected to attend in 2025,” the state-run Roscongress Foundation said in a statement.
“Applications have already been submitted, confirming a continued interest in dialogue and engagement,” it added.
The Kremlin told reporters Thursday that it was too early to say whether SPIEF 2025 would draw larger crowds of foreign investors than in recent years, but said that Russia was an “interesting and attractive” market for foreign businesses.
Kremlin spokesman Dmitry Peskov told reporters that American and European companies have continued to show interest in the annual economic forum despite the war in Ukraine and Western sanctions “but didn’t want to make their involvement public.”
“Perhaps new companies are showing interest now. [SPIEF organizers] welcome them all to the forum. It’s open to those interested in economic cooperation,” Peskov said during a daily press briefing.
This year, the annual economic showcase in St. Petersburg is scheduled to take place from June 18 to June 21, with Putin expected to deliver his traditional business-focused address on the final day.
U.S. business participation at SPIEF was discussed at a meeting between American Chamber of Commerce in Russia (AmCham Russia) president Robert Agee and Russia’s presidential adviser and head of the forum’s organizing committee, Anton Kobyakov.
Roscongres said AmCham Russia “fully supports initiatives aimed at rebuilding partnerships” and was planning to “integrate” into the SPIEF 2025 business program, with a possible roundtable discussion under consideration.
Agee touted the Russian foundation’s forums, including SPIEF, as a “valuable platform” for foreign businesses active in the Russian market, according to Roscongress.
In an interview with RBC last month, Agee estimated that around 150 U.S. companies have left Russia and another 150 continued to operate in the country since the war.
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