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Could the SPIEF be a platform for breaking the ice between the US and Russia or is it all about China?

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The Saint Petersburg Economic Forum to be held in Russia on 2-5 June is the first post pandemic global event that is focused to gather international delegations from the US, Germany, Italy, China, South Asia and the Middle East, writes Olga Malik.

With the Forum’s main focus on green energy and sustainable development, Russia aims to boost international trade ties and attract investments to its economy. But the SPIEF could also be a link in the fragile chain between Russia and the US following Washington’s intention to work with Moscow and President Joe Biden’s announcement, saying he looked forward to joint efforts and was “very heartened” by the country’s call for carbon removal. China is also not a passive participant in the climate deal. Despite it has the agenda, different from the one pursued by the US, President Xi earlier in April took part in the online Climate summit headlined by President Biden.

Yet, China, the major economic competitor for the United States has been experiencing a number of sanctions from Washington including export bans and restrictions on two dozens of Chinese diplomats following the confrontation between the U.S. and China over the governance of Hong Kong.

Russia, similarly, was imposed with sanctions on more than 30 officials and entities for attempts to meddle with the 2020 U.S. election, including the hacking of SolarWinds, an IT government contractor. Furthermore, in the first days of Biden’s Presidency ten US diplomats were expelled from Russia in retaliation. Nevertheless, Biden has sought a meeting with Putin this summer, and Moscow confirmed Putin's attendance at the Climate summit.

The SPIEF where most delegations come to make business could become a cracking point in the U.S-Russia tensions. But on the other side, Beijing with its huge delegation and broad program that includes signing of dozens trade and economic deals with Russia, will likely try to aside Washington from its involvement to global affairs as much as possible.

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