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Russian economic forum welcomes China and Egypt as West stays away

For years, Russia has hosted world leaders and business titans at its annual economic forum in St. Petersburg. But the “Russian Davos” will see little of the global financial elite this year with Moscow isolated by sanctions over its actions in Ukraine.

From June 15, to compensate for the lack of major Western participants, Russia gives pride of place to small players or countries like China – the world’s second largest economy – which have not adhered to the sanctions.

“Foreign investors don’t just come from the United States and the European Union,” Kremlin spokesman Dmitry Peskov told reporters on Tuesday, referring to the Middle East and Asia.

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Post expires at 7:34am on Sunday June 26th, 2022