The St Petersburg Economic Forum, often called Russia's 'Davos,' held its fifth edition since the 2022 invasion of Ukraine from June 2 to 4, 2026, in the Russian city [1, 2, 3]. For the first time since 2017-2018, American participants attended, including right-wing influencer Candace Owens, actor Steven Seagal, and Rodney Mims Cook Jr., chairman of the U.S. Commission of Fine Arts. Possibly Andrew Tate and his brother Tristan also took part [1, 2]. Rodnet Mims Cook Jr. clarified, "I was representing the U.S. as a minister of culture and as a Christian not as a politician" [2]. Owens expressed interest in Russia's historic churches, saying, "I have been wanting to go to St Petersburg for a very, very long time just as a Christian in general just to see some of those cathedrals and churches" [2].
Despite the ongoing conflict, the official program made no explicit mention of Ukraine [1]. Russian attendees voiced contrasting views: some called for continuing the war and preparing for a long confrontation with the West, while others urged seeking peace to ease economic pain [3]. Former spy Andrey Bezrukov predicted, "We have to admit that we will be at war in the next few years, maybe for a couple of decades. It may be a very hot war, it may be a creeping war... two generations can be considered basically to be at war. And we need to learn how to live with this war" [3].
The Russian economy showed signs of stagnation. Growth slowed to about 1% in 2025, contracted 0.2% in the first quarter of 2026, and forecasts put growth at a modest 0.4% for the year. Factors cited included sanctions, high interest rates, and a strong ruble. Russia's gross domestic product is projected to reach about $2.9 trillion in 2026 [1].
The forum coincided with Ukrainian drone attacks near the event, striking a St Petersburg oil terminal and naval base on June 3 [1, 3]. These attacks underscored the continuing hostilities as delegates debated Russia's future.
Candace Owens was scheduled to speak about balancing parenthood and career, Steven Seagal participated as a cultural supporter of Russia, and Andrew Tate reportedly received a musical welcome on arrival [2]. The forum continued on June 4 amid heated discussions on the country's path amid war, weighing extended conflict against calls for peace [3].
