US considering possible boycott of St. Petersburg International Economic Forum

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US government officials are holding talks with US companies to possibly withdraw from participation in the St. Petersburg International Economic Forum (SPIEF) in connection with Russia’s stand on the Ukrainian crisis, White House Press Secretary Jay Carney told reporters.

“I can confirm that these discussions are underway. But there are no details yet,” Carney said.

The West did not recognize Crimea’s reunification with Russia and therefore imposed sanctions on a number of Russian politicians and businessmen to add weight to the denouncement.

Moscow has repeatedly stressed that using the language of sanctions to talk Moscow is both inappropriate and counterproductive. SPIEF 2014 is a key Russian forum for discussion on the status and prospects of the national and global economies to be held May 22-24. This year’s theme is “Building trust in an era of change”.

According to the SPIEF 2014 website, the registered forum participants from the United States include CEO of Goldman Sachs Group Lloyd Blankfein, the head of Morgan Stanley James P. Gorman, group president of Caterpillar Inc. Donald James Umpleby, chairman of The Boston Consulting Group Hans-Paul Buerkner, head of consulting firm Bain & Company Inc. Orit Gadiesh, vice chairman of IHS Inc. Daniel Yergin, Chairman of the Board and Chief Executive Officer of Alcoa Inc. Klaus Kleinfeld, President and Managing Director of CNBC International Casey Sullivan and John Vincent Faraci, head of International Paper Company.

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