The 2025 St. Petersburg International Economic Forum (SPIEF), Russia’s premier business and investment gathering, officially opened Wednesday with a renewed emphasis on building a “multipolar” global order, as Moscow continues to face isolation from Western powers over its ongoing war in Ukraine.
Once dubbed the “Russian Davos,” SPIEF has seen a significant decline in participation from Western business and political leaders since Russia’s 2022 invasion of Ukraine. Despite this, the Kremlin announced that around 20,000 attendees from 140 countries are expected to join the forum, both in-person and virtually, including unnamed U.S. business representatives.
A panel titled “Russia-USA,” scheduled for Thursday, is set to feature American business figures with Russian ties discussing ongoing commercial relations, even as official diplomatic contact remains limited.
This year’s forum draws government officials from more than 50 countries, including China, Vietnam, Iraq, Saudi Arabia, the Central African Republic, and Burkina Faso. Notably, Taliban representatives from Afghanistan also arrived on Wednesday, signaling Moscow’s outreach to non-Western and alternative political actors.
In a symbolic move viewed as a win for President Vladimir Putin, Indonesian President Prabowo Subianto declined an invitation to the G7 summit in Canada in favor of attending SPIEF, where he will hold talks with Putin.
Putin is scheduled to deliver his keynote address during Friday’s plenary session, sharing the stage with Prabowo, Chinese Vice Premier Ding Xuexiang, Bahraini royal Nasser bin Hamad Al-Khalifa, and South African Deputy President Paul Mashatile. Ahead of the speech, Putin is expected to meet with heads of international news agencies.
The 2025 speaker lineup includes high-profile names from Russia’s ruling elite, such as Katerina Tikhonova, Putin’s daughter, and Ksenia Shoigu, daughter of former Defense Minister and current Security Council Secretary Sergei Shoigu.
Themed “Shared Values: The Foundation of Growth in a Multipolar World,” this year’s SPIEF features more than 150 sessions, including panels hosted by BRICS, the Shanghai Cooperation Organization, and the G20.
As the event began, St. Petersburg experienced disruptions to mobile internet access and a sharp increase in local hospitality prices, with hotel rooms sold out and food prices at the Expoforum venue rising by over 30%, according to local reports.
In his message to forum participants, Putin emphasized the importance of “technology and digital transformation as key drivers of leadership,” alongside broader discussions on demographics, labor productivity, science and education, healthcare, and social protection.
