St. Petersburg Forum 2025: Embracing a Multipolar Agenda Amid Western Isolation

The annual St. Petersburg International Economic Forum (SPIEF), regarded as Russia’s premier business and investment gathering, commenced on Wednesday, continuing its emphasis on fostering a «multipolar» world amid the country’s increasing isolation from the West.

Following Russia’s invasion of Ukraine in 2022, SPIEF has seen its status as the «Russian Davos» diminish, largely due to the reduced attendance of Western business leaders, investors, and officials at the event.

The Kremlin projected that approximately 20,000 participants from 140 nations will attend the forum, both in person and virtually, while also mentioning the involvement of unnamed American business representatives.

Previously, organizers had revealed that a panel titled “Russia-USA” scheduled for Thursday will include U.S. business leaders with ties to Russia, discussing ongoing commercial relationships despite minimal political discourse since the full-scale invasion of Ukraine.

A total of 50 nations, including China, Vietnam, Iraq, Saudi Arabia, the Central African Republic, and Burkina Faso, will be sending government officials to SPIEF 2025. Notably, officials from the Taliban arrived from Afghanistan on Wednesday as well.

In a notable gesture toward President Vladimir Putin, Indonesian President Prabowo Subianto chose to forgo the G7 summit in Canada this week in favor of attending SPIEF and meeting with Putin.

Putin is slated to deliver his annual address during Friday’s plenary session, alongside notable figures such as Prabowo, Chinese Vice Premier Ding Xuexiang, Bahraini royal Nasser bin Hamad Al-Khalifa, and South African Deputy President Paul Mashatile.

On the first day of the forum, Putin is anticipated to engage with leaders of major international news organizations.

As in past years, the speaker lineup at SPIEF 2025 will feature the offspring of Russia’s ruling elite, including Putin’s daughter Katerina Tikhonova and Ksenia Shoigu, daughter of former Defense Minister and current Security Council Secretary Sergei Shoigu.

This year’s forum is set to host over 150 business and thematic sessions focused on «Shared Values: The Foundation of Growth in a Multipolar World.» Sessions will include contributions from BRICS, the Shanghai Cooperation Organization, and the G20, according to Kremlin sources.

Reports from local media indicated that mobile internet in St. Petersburg experienced disruptions starting Tuesday evening as attendees arrived for the forum. Hotels throughout the city reached full occupancy, and eateries at the Expoforum convention center reportedly increased their prices by at least 32%.

In his message to the forum attendees, Putin underscored SPIEF 2025’s emphasis on “technology and digital transformation as essential drivers of leadership in today’s world,” as well as discussions concerning demographics, labor productivity, science and education, healthcare, and social welfare.

Reporting was contributed by AFP.