‘Party Like a Russian’ Turns Toxic at Putin’s Flagship Forum

Vladimir Putin’s annual economic forum in St. Petersburg was always a hot ticket for Russian and foreign business tycoons eager to curry favor with the Kremlin by hosting glitzy parties or announcing major investments. His invasion of Ukraine has made it a radioactive one.

Many business leaders are concerned about even being seen at this year’s St. Petersburg International Economic Forum, fearful it may make them targets for sanctions, three people familiar with the situation said, declining to be identified because the issue is sensitive. At least two executives said they plan to leave early to avoid attending Putin’s speech at the event, which in past years was the highlight for the well-connected.