Russian official to travel Davos world economic forum

An official Russian delegation will travel to the Davos world economic forum after organizers of the event lifted an earlier ban on several Russian businessmen, the state-run RIA news agency cited a government source as saying on Saturday.

Last month, the Financial Times reported that Oleg Deripaska, Viktor Vekselberg and Andrey Kostin had been told to stay away from the high-profile forum, due to take place in January, due to caution over dealing with businessmen under sanctions from Washington.

In response, Russia threatened to boycott the forum completely. "No one will go there," Prime Minister Dmitry Medvedev was cited by Interfax news agency as saying, after the report.

Davos forum organizers have now changed their minds, RIA cited its government source as saying.

"Since the Davos forum organizers have changed their decision and lifted the restrictions they imposed earlier on Russian businessmen, an official government delegation will travel to Davos and take part in the forum," RIA cited the source as saying.

"The level of the delegation and its composition will be decided later," the source said.

Russian billionaire Deripaska was placed under U.S. sanctions in April along with companies in which he is a large shareholder, including Rusal, the world's biggest aluminum producer outside China.

Vekselberg and his Renova Group, and Kostin, head of Russian state bank VTB, were also targeted by U.S. sanctions at the time.

 

(With inputs from agencies.)