Kostin called the alternative economic forum in Davos

© RIA Novosti / Eugene to Novostinearly in fotobanka Costin. Archival photoKostin called the alternative economic forum in Davos© RIA Novosti / Eugene to Novostinearly the image Bank

Alternative to the world economic forum in Davos, Switzerland VTB Bank CEO Andrey Kostin sees St. Petersburg international economic forum (SPIEF). About Kostin told reporters on the sidelines of the APEC summit.

«Our position known: that, of course, if the title is not regulated, all of the Bank’s delegation will not go to Davos. As for other formats, we have a format, we have the St. Petersburg international forum (SPIEF — ed.) which you know attracts a lot of participants from abroad and the leaders of the States. And this year was attended by the President of France (Emmanuel) Makron, and the Prime Minister of Japan (Shinzo) Abe and other leaders from other countries,» — said Kostin.

According to the newspaper Financial Times, entrepreneurs Oleg Deripaska, Victor Vekselberg and the head of VTB Andrey Kostin has refused to participate in the next session of the forum, to be held from 22 to 25 January. The press service of VTB reported RIA Novosti November 7, Kostin informed about the refusal of the organizers of the economic forum in Davos in its participation in this event, and its position on the issue, he will explain in an open letter to the forum participants.

Prime Minister Dmitry Medvedev said that Russia will refuse to participate in the world economic forum in Davos, if the organizers will not remove restrictions for Russian businessmen. He stressed that he discussed this matter with the President of Switzerland. However, Russian President Vladimir Putin later said that Russian businessmen themselves the right to decide the issue of its participation in the forum.