{"id":791,"date":"2026-06-02T14:40:03","date_gmt":"2026-06-02T14:40:03","guid":{"rendered":"https:\/\/reliablemovingcrews.com\/?p=791"},"modified":"2026-06-02T14:40:03","modified_gmt":"2026-06-02T14:40:03","slug":"putins-davos-haunted-by-war-and-stagnation-despite-the-swank-of-influencers","status":"publish","type":"post","link":"https:\/\/reliablemovingcrews.com\/?p=791","title":{"rendered":"Putin&#8217;s &#8216;Davos&#8217; haunted by war and stagnation despite the swank of influencers"},"content":{"rendered":"<div><div><div><ul><li>Summary<\/li><\/ul><\/div><div><\/div><\/div><div>ST PETERSBURG, Russia, June 2 (Reuters) &#8211; A right-wing U.S. influencer, a serving U.S. official and a German retail billionaire are due to attend President Vladimir Putin&#8217;s &#8220;Russian Davos&#8221; on \u200bWednesday as the Kremlin grapples with stalled growth and a confrontation with the West over the Ukraine war.<\/div><div>Russia&#8217;s premier investment forum, the fifth \u200csince Russia sent troops into Ukraine in 2022, opens just hours after a deadly drone and missile attack on Kyiv which Russia said was in response to a deadly attack on a dormitory in Russian-controlled Luhansk.<\/div><div>Shunned by the West since the 2022 invasion, this year&#8217;s forum will include Rodney Mims Cook Jr., chairman of the U.S. Commission of Fine Arts, who oversees President Donald Trump\u2019s White House \u200bballroom extension, U.S. right-wing influencer Candace Owens and, possibly, Internet personality Andrew Tate.<\/div><div>The Kremlin said this would be the first such Russian investment conference with \u200bU.S. participation since 2017-2018.<\/div><div>The war looms large, though Ukraine is not mentioned once in the official programme.<\/div><div>&#8220;The question is: does this \u2060war end or do we stare into a much tougher future?&#8221; one Russian participant told Reuters on condition of anonymity due to the matter&#8217;s sensitivity.<\/div><div>Putin, Russia&#8217;s paramount \u200bleader as either president or prime minister since 1999, presided over a massive jump in prosperity in his first 15 years as the economy grew tenfold to about $2.3 trillion \u200bin 2013, the year before Russia annexed Crimea from Ukraine, according to International Monetary Fund data.<\/div><div>Since then, though, Russia&#8217;s economy has paid the price for the confrontation with the West over Ukraine: despite better than expected growth in 2023 and 2024, it is projected at around $2.9 trillion this year, a fraction of the combined economic might of the $45 trillion NATO alliance, according to Russian \u200bstate data.<\/div><div>Russia&#8217;s commodity-dependent economy slowed sharply to about 1% growth last year from 4.9% in 2024, and shrank by 0.2% in the first quarter of 2026, which officials \u200bblamed on high interest rates, Western sanctions and a strong rouble. Growth is now forecast at a modest 0.4% this year.<\/div><h2>WAR, SPIES AND OIL<\/h2><div>Oleg Vyugin, a former deputy chairman of the central \u200cbank, told \u2060Reuters that Russia had a choice between a recession or reducing financing for what the Kremlin calls the Special Military Operation (SMO) in Ukraine.<\/div><div>&#8220;Russia is faced with a choice between reducing military financing, which will give the economy an incentive to grow by reducing the key interest rate more quickly, expanding lending to the civilian sector, partially lifting sanctions and restoring logistics chains, and continuing the SMO, which will constantly require increased spending and further tax increases, intensifying the economic slide into recession, and a decline in \u200breal incomes,&#8221; Vyugin said.<\/div><div>At the conference, whose \u200btheme is &#8220;Pragmatic Dialogue: the Path to \u2060a Stable Future&#8221;, attendees at the heavily guarded conference centre outside Putin&#8217;s hometown will rub shoulders with Russian billionaires and even some former intelligence officers over debates ranging from OPEC+ to the use of AI in information wars.<\/div><div>German retail billionaire Thomas Bruch, \u200bowner of Hyperglobus, is also listed as attending a discussion on investment from Germany, which was once the biggest single \u200btrading partner of Russia. \u2060The forum said 1,800 German companies continue to operate in Russia. Hyperglobus did not respond to a request for comment.<\/div><div>Owens, an American conservative commentator, will speak at a session on &#8220;balancing parenthood in a large family with a successful career,&#8221; according to the official programme.<\/div><div>&#8220;I have been wanting to go to St Petersburg for a very, very long time just as \u2060a Christian \u200bin general just to see some of those cathedrals and churches,&#8221; Owens said ahead of her trip.<\/div><div>Some \u200bof the most prominent guests this year are from Saudi Arabia, including Energy Minister Prince Abdulaziz bin Salman, who is due to discuss the impact of the war in the Middle East on energy \u200band the future of OPEC+ with Putin&#8217;s oil tsar Alexander Novak and OPEC Secretary General Haitham Al Ghais.<\/div><div><address><div><div><noscript>\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"120\" height=\"120\" alt=\"Guy Faulconbridge\" class=\"wp-image-790\" src=\"https:\/\/reliablemovingcrews.com\/wp-content\/uploads\/2026\/06\/77f2da52e038e54babc7be2989456d75.avif\"\/><\/figure>\n<\/noscript><\/div><div>Guy Faulconbridge<\/div><\/div><div><ul><li><span><div><svg><title>Email<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>X<\/title><\/svg><\/div><\/span><\/li><li><span><div><svg><title>Linkedin<\/title><\/svg><\/div><\/span><\/li><\/ul><\/div><\/address><\/div><\/div><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=788\">Netanyahu faces criticism after Trump halts Israeli strikes on Beirut<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=785\">Trump appoints ally and FHFA chief Pulte as acting US intelligence director<\/a><\/p><p>Read more <a href=\"https:\/\/reliablemovingcrews.com\/?p=783\">Boston judge to weigh blocking Trump\u2019s mail-in voting executive order<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>A right-wing U.S. influencer, a serving U.S. official and a German retail billionaire are due to attend President Vladimir Putin&#8217;s &#8220;Russian Davos&#8221; on \u200bWednesday as the Kremlin grapples with stalled growth and a confrontation with the West over the Ukraine war.<\/p>\n","protected":false},"author":1,"featured_media":789,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[10],"class_list":["post-791","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-world"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Putin&#039;s &#039;Davos&#039; haunted by war and stagnation despite the swank of influencers - Reliable Moving Crews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reliablemovingcrews.com\/?p=791\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Putin&#039;s &#039;Davos&#039; 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