All news

Russian businessmen can choose to attend Davos forum on their own, says Putin

Earlier, the Kremlin said the Forum in Davos would lose out by not inviting major Russian businessmen

SINGAPORE, November 15. /TASS/. Russian businessmen and companies can decide on taking part in the World Economic Forum in Davos themselves, Russian President Vladimir Putin said on Thursday responding to a question from TASS.

"As far as our participation is concerned, every person, businessman, or representative of some company - are free individuals, they decide on whether or not they will participate themselves," Putin said.

At the same time, Putin believes that if Russia skipped the forum in Davos, it would not affect the country's authority in the global economy.

"This definitely will not affect Russia's prestige in the global economy," Putin said answering a question about the consequences of Russia's possible refusal to participate in Davos forum due to restrictions on the presence of a number of Russian businessmen. The president noted that the authority of any country in the global economy depends primarily on the economic power of the state, the structure of its economy and macroeconomic indicators. "In this regard, I can say that, in general, we are achieving goals that we set for ourselves and feel confident," Putin added.

He generally described the venues similar to the forum as useful. "When I was Vice-governor of St. Petersburg, I went to Davos almost every year. Later, upon working in Moscow it happened less and less, lately I virtually never go there. But the platform is good," Putin noted.

The president noted that by banning a number of Russian businessmen from participating in the event, the Davos forum organizers are shooting themselves in the foot. Commenting on reports about the Davos forum not allowing a number of Russian businessmen to attend, Putin noted that the purpose of such venues is to bring people together "outside of any political restrictions." "And if someone on such venues imposes restrictions, they are shooting themselves in the foot, they destroy the basis of their activities. That’s what we should keep in mind," Putin explained.

Russian Presidential Spokesman Dmitry Peskov told reporters earlier that the Forum in Davos would lose out by not inviting major Russian businessmen. "By rejecting such businessmen, the forum is tearing down its foundation," Peskov said. According to him, Rusal co-owner Oleg Deripaska, Renova Group owner Viktor Vekselberg, VTB Head Andrey Kostin "became who they are not because of the Forum, but the Forum became what it is thanks to such businessmen."

By the same token, Peskov noted that several large international economic forums are held in Russia that can compete with Davos. "Many interesting forums are held in Moscow, with a very wide international presence, some of these forums are organized by the aforementioned entrepreneurs, so everyone interested always has the opportunity to visit us in Russia. We will be happy to see everyone," he said. "This is not the only forum, in this regard, the competition is very strong, and Russia is more than competitive here," Peskov added.

According to Peskov, "after such decisions, Russia’s presence will not be as wide" as in previous years. He recalled that earlier Russian President Vladimir Putin and Prime Minister Dmitry Medvedev visited the World Economic Forum. Speaking about the upcoming forum in Davos in January 2019, Peskov noted that Putin’s current schedule would not allow him to attend the event.

Earlier, The Financial Times reported earlier citing sources that Deripaska, Vekselberg and Kostin would not be invited to the World Economic Forum, which will be held in January in Davos, Switzerland. According to the sources, the decision was due to concerns related to US sanctions.

Russian Prime Minister Dmitry Medvedev told reporters later that if restrictions on Russian businessmen in Davos are not lifted, then Moscow could boycott the forum. According to Medvedev, decisions on barring Russian businessmen are "very strange, to say the least"