Russian Railways (RZD) head Vladimir Yakunin (L) speaks with Confederation of India's Industry (CII) head Sumit Mazumder as they take part in the annual Economic Forum in Saint-Petersburg, on May 22, 2014. (AFP PHOTO / OLGA MALTSEVA)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
President Vladimir Putin tried Thursday to warm up relations with foreign investors chilled by the crisis in Ukraine, but many senior executives snubbed him by boycotting a conference that had been billed as Russia's answer to Davos.At the forum, Putin is likely to hold up the 30-year supply deal with Beijing as a sign to the West that it cannot isolate Russia globally because it has powerful allies in Asia.But with Russia's economy tilting into recession and capital flight accelerating, an exodus by foreign investors would be a painful blow for Putin.Sanctions are bad for business, and many Western firms have lobbied against them, especially in Europe which does more than 10 times as much trade with Russia as the United States does.Still, top executives of some Western companies are keen not to be seen as too cosy to Russia at a time when their governments are so strongly at odds with Moscow, especially Americans explicitly warned away by the White House.
FOLLOW THIS ARTICLE