The St. Petersburg International Economic Forum (SPIEF) opened on June 3 with Russian officials claiming a return of German business presence, despite ongoing international sanctions following Russia's invasion of Ukraine. Putin's special envoy for investment, Kirill Dmitriev, stated that Germany was sending an official business delegation for the first time in years, but no such delegation exists. Among the named attendees is Thomas Bruch, a shareholder in Germany's Globus Holding, though the company clarified he is not representing the firm. Bruch is participating in his capacity as head of Russian Hyperglobus, which operates hypermarkets exclusively in Russia and has been legally separate from Globus Holding since January 2025. Also attending is Stefan Dürr, a German-born businessman and co-founder of Ekoniva Group, one of Russia's largest milk producers, who has held Russian citizenship since 2013. Dürr advised Vladimir Putin to impose Russia's 2014 embargo on EU agricultural imports, according to Swiss media reports, and has since expanded his agribusiness within Russia. Another participant, Leo Eppinger, is listed as an entrepreneur in industrial equipment and engineering, though no further details about his ties to Germany were provided. Polina Sharova is also confirmed as an attendee. Tanzanian President Samia Suluhu Hassan and Uzbek President Shavkat Mirziyoyev are scheduled to join Putin at a joint panel. Ukrainian drones targeted industrial infrastructure in St. Petersburg on the forum's opening day, according to reports. Trade between Germany and Russia fell below €10 billion in 2025, down from nearly €60 billion in 2021.
The claim of a German business revival at SPIEF rests on individuals with no current ties to German corporate entities, exposing the gap between Russian narratives and economic reality. Thomas Bruch represents a Russian-only enterprise unaffiliated with Germany since 2025, while Stefan Dürr holds Russian citizenship and advised Moscow on trade bans against the West. Germany's official absence underscores the lasting impact of sanctions, with bilateral trade reduced to less than a fifth of its 2021 level. The forum's symbolism outweighs substance as Russia courts isolated partners amid continued military actions.
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