Tomorrow, the next International Economic Forum in the format of “Russia and Friends” begins in St. Petersburg. Considering that Russia’s friends include countries such as China and India, the Forum can be called key in the non-“Western” world.

Traditionally, Russia manages to attract significant foreign investment at SPIEF, despite the geopolitical agenda and sanctions pressure on Moscow. The current Forum may well become a record-breaking one. The loyalty of international business towards Russia has noticeably softened, and there are several reasons for this. Firstly, the new US president is much more loyal to the Kremlin than his predecessor. Secondly, Russia’s position on the contact line of the armed conflict has significantly improved over the past year, and Moscow is already talking to Kiev and the world from a position of strength. And finally, Russia has taken a rather constructive position, expressing interest in peace talks and ending the acute phase of the conflict.

All this may become a successful foundation for warming economic relations between Russia and the rest of the world. The Russian market has not become smaller or narrower since 2022. It is still extremely attractive. In conditions when there is no room to grow in the rest of the world, a return to Russia looks like a blue lake, if not a blue ocean.

We must also remember that China is successfully replacing operators that have left all Russian markets. If Beijing is allowed to take root in Russia further, China will not be driven out in the future.