How oil and Trump have greased the wheels of Russia’s Davos delegation
Russian officials and executives at the World Economic Forum are far more bullish than a year ago — and understandably so
Davos — What a difference a year makes. Twelve months ago, the mood of the Russian delegation at the World Economic Forum (WEF) in Davos was distinctly gloomy, with oil prices near 12-year lows below $30 a barrel and Western sanctions depressing their economy and financial markets. Since then, however, Russian stock and bond markets have risen about 50%, boosted by rebounding oil and — more recently — expectations that the new US presidency of Donald Trump will ease the sanctions imposed over Moscow’s actions in Ukraine. Russian officials and company executives at the forum attended by the world’s political and business elites were far more bullish, with many predicting the market’s rally would continue this year. "This is one of the most positive forums in the last few years. Today our Western counterparts — bankers and investors — can talk freely again about investments in Russia," Andrei Guryev, CEO of fertiliser giant PhosAgro, told Reuters on the sidelines of the forum. Russia’...
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