U.S bankers stay away from Putin's forum

Vladimir Putin Wags Finger

Look at the attendance list for this week’s St. Petersburg International Economic Forum, Russia’s annual showcase for global investors, and you’ll notice a couple of things.

Bloomberg News reports that first, the number of business leaders making an appearance remains way below the event’s heyday before the crisis in Ukraine.

Second, those who do go to hear President Vladimir Putin’s keynote address on Friday are far more likely to bump into a European oil executive than an American banker.

While the panic over last year’s ruble collapse has ebbed, the economy’s slide into recession for the first time since 2009 continues to damp any interest in investment in Russia. Moreover, European companies are more willing to remain engaged than their U.S. counterparts, put off by the coolest relations between Moscow and Washington in a generation.

To access the complete Bloomberg News article hit the link below:

U.S. Bankers Shun Putin Showcase as Europe’s Oil Men Pay Court

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