A political scientist from the United States pointed to the gradual restoration of contacts between Russia and the West.

Russia's contacts with current and former Western officials, as well as business representatives, suggest that cooperation is gradually resuming. John Kavulich, a journalist and expert on international sanctions policy, told Izvestia on June 3 at the St. Petersburg International Economic Forum (SPIEF).

"The German delegation is present at the forum. There is a representative of the administration of [US President Donald] Trump. Yes, technically his mission is cultural in nature, but he remains an official representative," he said.

However, Kavulich continued, one should not expect a rapid easing of the sanctions regime in the event of the end of the conflict in Ukraine.

"There will always be countries within the European Union that will object. <...> We will probably see the 22nd, 23rd, 24th, and 25th packages of sanctions," he concluded.

Contract time: deals worth 6.5 trillion may be concluded at SPIEF 2026

The amount will be comparable to last year's amount against the background of high rates — it is the issues of business growth that will become the main topics of discussion.

Dmitry Birichevsky, Director of the Department of Economic Cooperation at the Russian Foreign Ministry, said on May 21 that Western entrepreneurs were applying to participate in the SPIEF, avoiding public statements about it. Prior to that, on May 7, Vittorio Torrembini, President of the Association of Italian Entrepreneurs in Russia, announced that the Italian business community would be widely represented at the SPIEF, despite pressure from the European Union (EU).

The XXIX St. Petersburg International Economic Forum (SPIEF) takes place from June 3-6 at the Expoforum Exhibition Center. It is attended by representatives of more than 130 countries and territories. The main theme of SPIEF 2026 is "Pragmatic dialogue — the way to a stable future."