The Obama administration has been exerting pressure on the chief executives of some of the country’s biggest corporations to withdraw from attending an international economic forum in Russia because of its involvement in Ukraine. The event, slated to take place later this month and is hosted by President Vladimir Putin, is seen as a showcase of Russia’s economic might on the global stage.
Alcoa, Goldman Sachs, PepsiCo, Morgan Stanley are among the corporate giants that will either skip the event, or plan to send lower-level executives to attend the forum. Despite their compliance, many industry leaders have expressed frustration in private about being unwittingly caught in the middle of a geopolitical situation. After all, Russia represents a large market for these American companies.
Meanwhile, the Obama administration has slapped new sanctions this week on an additional two dozen Russian companies. The EU said it’ll roll out related sanctions today.
Roger Runningen, Bloomberg News reporter who’s been covering the story