St Petersburg , dreamt up by Tsar Peter the Great , is now best known as president Vladimir Putin 's capital . But it is obvious , with a long , long list of no shows from corporate America and Europe , the tone has changed dramatically for the worse at SPIEF 2014 . Last year Putin used SPIEF -- today 's Davos -- to expand his international business and political influence . This year , the Ukraine crisis is affecting the forum , and many executives are staying away from Putin . The president 's ambitions to foster investment and improve living standards has been stymied by the crisis .
St Petersburg , dreamt up by Tsar Peter the Great , is now best known as president Vladimir Putin 's capital . Last year Putin used SPIEF -- today 's Davos -- to expand his international business and political influence . This year , the Ukraine crisis is affecting the forum , and many executives are staying away from Putin . The president 's ambitions to foster investment and improve living standards has been stymied by the crisis .