Economics
Arrested Investor’s Cameo Casts Shadow Over Putin’s Davos
- Turnout among global business chiefs will be muted once again
- Foreign investment in Russia is the lowest in developing world
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The good news for Russian President Vladimir Putin is that his premier investment event won’t be dominated this year by discussions about sanctions. The bad news is that attention will be fixed instead on the arrest of American private equity manager Michael Calvey.
Calvey, who remained a Russia advocate even after sanctions caused foreign investment to shrivel since 2014, was detained on suspicion of fraud earlier this year in what he describes as a commercial dispute. Now he may get a chance to tell his side of the story after the Kremlin said it wants to see him at the St. Petersburg International Economic Forum despite being held under house arrest.