Western businesses do not want to lose Russian market, keep monitoring situation

ST. PETERSBURG, June 5. /TASS/. Western businesses are monitoring the situation in Russia and watching for political signals because they do not want to lose a major market, Federation Council Information Policy Commission Chairman Alexey Pushkov told TASS.

"Part of the business community in the West has never lost interest in Russia. It is well known, for example, that a number of companies merely froze their presence in Russia. Some left, but many stayed. This concerns German businesses, Italian businesses, and French businesses alike. In other words, business is monitoring the situation and, as I believe, watching for political signals," Pushkov said.

He noted that Western companies view the Russian market as highly significant and do not want to lose it.

The 29th St. Petersburg International Economic Forum (SPIEF-2026) is taking place on June 3-6. This year, the event is held under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at SPIEF. The forum program is dedicated to shaping a new model of global development amid the ongoing transformation of the world economy.

The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, and the Ensuring Drug Security Forum. As part of the cultural program, the Petersburg Seasons festival and the traditional SPIEF Sports Games will take place. This year, Russia’s national economic development institution VEB.RF is the title partner of SPIEF.

The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its official general information partner.