(EDM) The St. Petersburg Economic Forum (held on June 1–3) is a one-of-a-kind high-profile event, where Russian business elites camouflage their worries through demonstrations of loyalty, and in which high-level lobbying for or against reforms is mixed with expensive entertainment. Government officials are allowed a bit of freedom to express their disagreements with one another, but the main attraction is always the presentation delivered by President Vladimir Putin, who is expected to add a few jokes to the message on economic priorities. Prospective foreign investors to the Forum are regularly instructed to prepare thick portfolios of memoranda of understanding: these commit them to nothing but make it possible for the organizers to demonstrate that there is substance behind the annual pokazuha (empty pretenses) (Newsru.com, June 1). Russian oligarchs are now reluctant to travel to Davos and discouraged from throwing wild parties in Courchevel, so schmoozing in St. Petersburg grants journalists the best opportunity to feel the mood of this exclusive crowd. […]
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