Putin’s ’Davos’ Haunted by War and Stagnation Despite the Swank of Influencers
The forum drew U.S. and foreign guests as Putin faced stalled growth, sanctions and a debate over whether Russia should keep funding the war or seek peace.
- On Wednesday, President Vladimir Putin opened the St. Petersburg Economic Forum, marking the first U.S. official attendance at the major investment conference since 2017-2018.
- Stalled economic growth and confrontation with the West over the Ukraine war have pressured the Kremlin, with the commodity-dependent economy slowing sharply to about 1% growth last year.
- The U.S. delegation includes Rodney Mims Cook Jr., chairman of the U.S. Commission of Fine Arts, alongside influencer Candace Owens and German retail billionaire Thomas Bruch.
- Former central bank deputy chairman Oleg Vyugin warned that Russia faces a choice between reducing military financing to spur growth or continuing the Special Military Operation .
- Russia's economy, projected at around $2.9 trillion this year, shrank by 0.2% in the first quarter of 2026, with overall growth forecast at a modest 0.4%.
68 Articles
68 Articles
Putin is running out of money to wage war on Ukraine, and this Russian-occupied territory is running out of fuel as Kyiv smashes supply lines
Russia is reeling as casualties reach staggering heights; recruitment of replacement troops wanes; and areas far from the front lines come under attack.
Vladimir Putin minimized on Friday his country's economic difficulties during a speech in St. Petersburg. "We hear the critics," the Russian president conceded. Russian GDP contracted by 0.2% in the first three months of the year, the first quarterly decline in three years. - "A tense and difficult context": Vladimir Putin tries to reassure Russia's (International) economic health.
Russian President Vladimir Putin stated that Western sanctions are undermining the global economy and confidence in the international financial system, but they also open up new opportunities for Russia and developing countries.
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Putin Touts Rise of Emerging Economies and Criticizes Western Dominance at St. Petersburg Forum
Russian President Vladimir Putin used the opening session of the annual St. Petersburg International Economic Forum on Friday to argue that the balance of global economic power is shifting away from Western nations and toward developing countries, while also sharply criticizing Western sanctions and financial policies that he said have weakened trust in the international financial system.
Die Presse
Russia has now reached the level at which Europe has been for years, says the Russian Head of State.
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