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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

Friday, Aug. 22


Get ready to pledge allegiance to the flag during National Flag Day, paying tribute to when, 23 years ago today, the iconic hammer-and-sickle was replaced with the tricolor that now flutters in the wind. Petersburgers will be treated to a free concert on Palace Square, a military parade and a culminating air show featuring Russias Russian Knights stunt pilots.



Saturday, Aug. 23


Uppsala Park plays host to Fairy Noon today, a performance of five separate fairy tales ranging from folk classics to more haunting selections. There will be three different renditions of the tales throughout the day and tickets start at 500 rubles ($13.80) for adults and 300 rubles ($8.30) for children.


Classic Finnish cartoon characters the Moomins expect to receive a warm welcome from Russian fans during todays Moomin Festival at the Pearl Plaza Shopping Center at 51 Petergofskoye Shosse. Become a kid again or introduce a new generation to the beloved creation of Finnish writer Tove Jansson.



Sunday, Aug. 24


The tortured genius of Dutch master Vincent van Gogh gets his day in the centers Konnushnaya Ploschad during Make Art Like Van Gogh, a daylong celebration of the artist that will allow amateur artists to try and replicate the work that made the famed painter world-renowned.


Experience a variety of dances highlighting the diversity of the world around as at the final day of the Ethno-Dance International Dance Festival that has been at the St. Petersburg Humanitarian University of Trade Unions this past week. Tonights performance will feature Egyptian dancers accompanied by local orchestras.



Monday, Aug. 25


Today kicks off the Elena Obraztsovoy International Competition for Young Vocalists in the large hall of the Shostakovich Philharmonic. Talented youngsters will showcase their range over the next six days before a winner is chosen on Aug. 30.



Tuesday, Aug. 26


Love movies but hate all those words? Then check out Rodina Cinema Centers Factor of Consensus film forum this evening. Silent movie classics from the beginning of the 20th century will be screened and accompanied by a pianist, who will provide the soundtrack for the ongoing action. The screenings begin at 7 p.m. Check Rodinas website for more details.



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