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CEO Cancellations No Setback for Forum

Published: May 14, 2014 (Issue # 1810)



  • PepsiCos Indra Nooyi is one of the CEOs who have reportedly decided against attending SPIEF.
    Photo: World Economic Forum / Wikimedia Commons

The Russian Ministry of Economic Development has said that the decision by some international companies to cancel their participation in the upcoming St. Petersburg International Economic Forum, or SPIEF, from May 22 to 24 will not directly affect their relationship with the Russian government.

We reject any dialogue that involves putting pressure on businesses, blatant blackmail, or threats, said Sergei Belyakov, Deputy Minister of Economic Development of the Russian Federation, as reported on the ministrys website last week.

We will not close the door to the Russian economy and the Russian market for those companies which will not be coming. We will, of course, assist them andcan therefore assure these companies that this will have no effect on our relationship with them, he said.

Belyakov also stated that approximately 15 percent of company directors who originally registered to participate in the forum had pulled out. However, he also said that many companies had explained their decision by citing pressure put on them by the U.S. government following the recent sanctions placed on Russia.

Last week, Russian daily newspaper Izvestia reported that at least 34 top managers from foreign companies had canceled their registration to the forum after recommendations released by the U.S. government last week to do so due to the Ukrainian crisis. In fact, most of these managers are from American companies then followed by managers from the U.K. and Germany, reported Izvestia.

Izvestia also published a list of names of the managers who had allegedly pulled out, a list that includes John Faraci, CEO of International Paper Company, Siemens president Joe Kaeser, Alcoa CEO Klaus Kleinfeld, PepsiCos Indra Nooyi and Deutsche Bank co-chairman Juergen Fitschen.

However, a spokesman for Deutsche Bank said the list was inaccurate.

Juergen Fitschen had never confirmed his participation in the forum, as its opening coincides with the banks annual general meeting in Germany on May 22, spokesman Dmitry Agishev told AFP.

According to a New York Times report last week, the White House has been pressuring chief executives from some of Americas largest energy, financial and industrial corporations to cancel their plans to attend the forum, which will be hosted by President Vladimir Putin.

The report said that top executives from giant companies such as Alcoa, Goldman Sachs, PepsiCo, Morgan Stanley, ConocoPhillips and other multinational companies that do business in Russia have either pulled out of the conference or plan to do so after an intensive lobbying campaign by President Obamas advisers.

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ALL ABOUT TOWN

Wednesday, July 23


SPIBAs Legislation & Lobbying Committee invites everyone interested in the practical aspects of courts and procedural law to todays Legal Debating Club at 9:30 a.m. at the Mertens House, 21 Nevsky Prospekt, office 506. Visit spiba.ru for more details.


Take advantage of the sunny summer days and participate in Beach Games 2014, which runs through July 27 in Sestroretsks Dubki Park.



Thursday, July 24


Liliana Modiliani, a well-known Russian stylist, will talk about choosing clothes that fit during her lecture at 7 p.m. at the Pryamoy Efir art club, 13 Viborgskoe Shosse.



Friday, July 25


Discuss Russias economic and political prospects for 2014 during a Business Breakfast organized by SPIBA at 9.30 a.m. in the Bank Saint-Petersburg office at 64


Malookhtinsky Prospekt.


Start your weekend with adorable miniature pigs at the Squealing Pig festival at 7 p.m. this evening in the Karl & Friedrich restaurant, 15 Iozhnaya doroga, on Krestovsky Island.



Saturday, July 26


Hundreds of brand-new and retro cars, drag and drift shows, test drives and karting are planned for the Avtobum-2014 festival, which will take place in front of the RIO shopping center at 2 Fuchika Ulitsa.


Participants in todays SaniDay Summer competition will impress visitors with their hand-made, unusual and hilarious boats, which will race at the Igora Resort near the 54th kilometer on Priozerskoe Shosse.


Metro Family Day will include both serious lectures for adults and master-classes for children, making the event interesting for the whole family. To participate, come to Kirov Park on Yelagin Island.


Photography will be the focus of todays Photosubbota, which features lectures by famous photographers, meetings with photo schools and studio representatives, and participation in a photography competition. The event starts at noon at Petrokongress, 5 Lodeynopolskaya Ulitsa.


If you like cycling, make sure to visit the Za Velogorod Festival with its retro bike exhibition, market and live music. The second round of the Leningrad Criterium race will also take place during the event at Petrovsky Arsenal in Sestroretsk.



Sunday, July 27


Navy Day will be celebrated with a weapon and military transportation exhibition, self-defense master classes and concerts. The event starts at 1 p.m. in the 300th Anniversary Park of St. Petersburg.



Monday, July 28


Dont miss a chance to see the latest achievements in robotics during the RoboDom interactive show, exhibiting more than 150 robots. The show will be at BUM center, 22/2 Gzhatskaya Ulitsa, until Aug. 3. The entrance ticket costs 350 rubles ($10).



Tuesday, July 29


A video of a Queen concert from 1986 will be shown today at 8 p.m. in Yaschik, 50/13 Ligovsky Prospekt.



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