The White House has called on the American corporations to boycott the Saint Petersburg International Economic Forum amid the Ukrainian events. There are energy, financial, and industrial companies that were phoned by the US President Administration, the New York Times reports.
Such giants as Alcoa, Goldman Sachs, PepsiCo, Morgan Stanley, and ConocoPhillips have reportedly decided to skip the forum under pressure from Barack Obama’s administration. The authorities are attempting to isolate Russia over its involvement in the Ukrainian crisis. A number of chief executives from the U.S. are canceling their plans. The White House representatives phoned top managers putting them in an awkward spot. According to the CEOs, White House Advisor Valerie Jarrett, Treasury Secretary Jacob Lew, and Commerce Secretary Penny Pritzker were asking them to not to go.
To avoid confrontation with the President Administration, thousands of the US CEOs have bowed out but still are sending their deputes. Representatives of the business elite are afraid to lose the niche as if they cut off contacts, the industry will be occupied by European and Asian companies.
The Saint Petersburg International Economic Forum is a traditional event for discussions of perspectives of the world and national economies. It gathers businessmen from over 80 countries. This year, it is the 18th meeting with the motto “Confidence-building in the reformation era”.