The St. Petersburg International Economic Forum (SPIEF) took place with a focus on Russia’s position in a “multipolar” world, partnerships with the Global South, and domestic business deals. Following the country’s invasion of Ukraine in 2022, SPIEF’s lineup reflects a shift towards Asia and Africa due to Russia’s diplomatic and economic isolation from its Western allies. While the event has lost some global status, it remains an important platform for business, particularly at the domestic level. Although guests from 136 countries are expected to attend, notable Western attendees are absent, with the highest-ranking guests being the presidents of Bolivia and Zimbabwe, along with the Hungarian foreign minister.
This year’s event also highlights the rising profile of the children of Russia’s political elite. Alleged daughters of President Vladimir Putin, Maria Vorontsova and Katerina Tikhonova, are set to speak at SPIEF. Meanwhile, Ksenia Shoigu, the daughter of recently ousted Defense Minister Sergei Shoigu, will moderate a panel on Russian sports. With the theme of global “multipolarity,” many panels will focus on Russia’s economic sovereignty and partnerships with BRICS nations. Discussions will cover strengthening business cooperation within BRICS, ensuring global food security, and the role of BRICS in the modern world.
The Kremlin has historically aimed to attract foreign names to SPIEF’s guest list to emphasize the event’s importance. Former Western leaders like Angela Merkel, Gerhard Schroder, and Emmanuel Macron had attended in previous years. Despite the absence of Western heads of state this year, there will be a panel titled “The Empire of Evil: Has the West Successfully Demonized Russia?” featuring European and American participants. Putin will deliver his keynote address alongside the presidents of Bolivia and Zimbabwe. The forum has seen a decline in international status, with pro-Kremlin experts acknowledging its shift towards a domestic Russian event.
SPIEF continues to be a platform for important discussions on various topics, including the philosophy of a multipolar world, moral security, and traditional values. Some panels will focus on promoting family values, sustainable development, and supporting young families. While the forum attracts foreign guests and journalists, including those from countries deemed “unfriendly” by Russia, its international status has diminished. It is seen as a gathering of Russia’s elite in Putin’s hometown, where political and economic leaders come together for discussions and networking. Despite the changes in attendance and focus, the forum remains a significant event for business and economic discussions in Russia.
