The annual St. Petersburg International Economic Forum (SPIEF), Russia’s flagship business and investment event, opened Wednesday with a continued focus on promoting a “multipolar” world amid Moscow’s isolation from the West.

Since Russia’s 2022 invasion of Ukraine, SPIEF’s reputation as the “Russian Davos” has faded due to the reduced presence of Western business leaders, investors and officials at the event.

Some 20,000 guests from 140 countries are expected to attend the forum in person and online, the Kremlin said, noting the participation of unnamed U.S. business representatives.

Organizers announced earlier that a Thursday panel called “Russia-USA” would feature U.S. business figures with Russian ties discussing ongoing commercial engagement despite limited political dialogue since the full-scale invasion of Ukraine.

Among the 50 countries sending government officials to SPIEF 2025 are China, Vietnam, Iraq, Saudi Arabia, the Central African Republic and Burkina Faso. Taliban officials also arrived from Afghanistan on Wednesday.