What is the St Petersburg forum, Putin’s economic outreach to the world?

Some 20,000 guests from more than 130 countries are expected to attend the three-day St Petersburg International Economic Forum (SPIEF) , an annual gathering often described as the “Russian Davos”.

This year’s event begins on Wednesday against the backdrop of the war in Ukraine and Russia’s prolonged estrangement from much of the West. Hours before delegates arrived in the city, Ukrainian drones struck energy facilities in and around St Petersburg, according to Russian and Ukrainian authorities. The attacks, which took place roughly 16km (10 miles) from the forum venue, temporarily disrupted operations at the city’s airport, though the conference is proceeding as planned.

The SPIEF has become far more than an economic conference for Moscow. As Western governments and many multinational companies have distanced themselves from Russia since the invasion of Ukraine in 2022, the forum has emerged as a showcase for the Kremlin’s efforts to deepen ties with countries in the Global South.

Attendance has remained strong despite Russia’s diplomatic isolation in Europe and North America, with officials portraying the gathering as evidence that Moscow retains international partners beyond the West. Here’s a closer look at the event.

The first SPIEF was held in June 1997, during a period when post-Soviet Russia was seeking foreign investment and closer integration with the global economy. The annual forum was designed to attract investors and project an image of a country open for business after the collapse of the Soviet Union.

Over nearly three decades, it has evolved into one of Russia’s most prominent international events. While investment and business remain central themes, the forum has increasingly become a platform for Moscow to present its vision of the global order and cultivate political ties abroad.

The programme combines investment discussions and political debates. This year’s sessions range from energy markets and artificial intelligence to information warfare and media influence. One panel, featuring Russian Foreign Ministry spokesperson Maria Zakharova, is titled: “Your Words are Like Bullets: How Information Has Transformed into the Most Powerful Weapon of the Modern Era.”

One notable development this year is the presence of an official US delegation, the first such participation at a major Russian investment forum since before the Ukraine war. President Donald Trump has appointed Rodney Mims Cook Jr, chairman of the US Commission of Fine Arts, as his representative at the event.