There is the official forum, with panels on the global economy, energy, artificial intelligence and the “new multipolar order”. And then there is the undergrowth that has accompanied the Kremlin’s great economic event for years: private parties, luxury hotels, escorts, confidential meetings that take place in St. Petersburg during the International Economic Forum, the Spief, often defined as the “Russian Davos”. The 2026 edition – between war and economic stagnation – represents the Kremlin’s attempt to show that Russia is not alone: according to estimates relaunched by Al Jazeeraaround 20 thousand guests from more than 130 countries are expected until June 6th.
For Vladimir Putin it is much more than an economic conference. It is the showcase with which Moscow tries to demonstrate that Western isolation is not total, that entrepreneurs, politicians and public figures continue to arrive in Russia despite the war in Ukraine and the sanctions.
The AfD in St. Petersburg
The most politically sensitive case concerns Germany. Some members of the AfD, the German far-right party, went to St. Petersburg despite Berlin’s cautions. Markus Frohnmaier, foreign policy spokesperson for the Alternative fur Deutschland parliamentary group, met at the forum with Alexei Miller, CEO of Gazprom, and Kirill Dmitriev, Putin’s emissary for investments and economic cooperation. Frohnmaier asked to also put the reopening of the energy channel with Moscow and Nord Stream back “on the table”.
I have already met the Chef from Gazprom, Alexej Miller, getroffen. Im Mittelpunkt des ausführlichen Gesprächs in der Gazprom-Zentrale standen die Möglichkeit einer Wiederinbetriebnahme der Nord-Stream-Pipelines und die Wiederaufnahme russischer Gaslieferungen.
Deutschland… pic.twitter.com/d3g6eRDWVs
— Markus Frohnmaier (@Frohnmaier_AfD) June 3, 2026
Together with Frohnmaier, three other AfD representatives were expected: Steffen Kotré, Jörg Urban and Petr Bystron. The quartet’s presence has sparked debate in Germany because the forum is under Putin’s political patronage and because, since the invasion of Ukraine, major Western figures have largely avoided the St. Petersburg showcase.
Next to politicians, there are businesses. Around 1,600 German companies remain operational in Russia: figures from the Teutonic business world have been seen in St. Petersburg in recent days, including Stefan Dürr, active in Russia with the EkoNiva group, and Thomas Bruch, linked to Globus Holding.
For the Kremlin it is a precious message: despite sanctions, diplomatic ruptures and war, a part of the European economic world continues to not want to completely break off relations with Moscow.
The escort market around the forum
The other documented part concerns the parallel market of escorts. Around the Spief there has been an escort market for years aimed at a high-level clientele. This is nothing new in 2026: already last year the local media had reported at least 420 sex workers who had reached the city offering themselves with rates ranging from 15 thousand to 100 thousand rubles an hour, up to over 500 thousand rubles (about six thousand euros).
According to local media, the agencies would apply extremely rigorous selection criteria, focusing not only on appearance but also on the command of foreign languages as well as the ability to conduct informal conversations on world politics and economics. Qualifications necessary to be accredited for corporate events and VIP lounges. Dynamics that could turn into “honey traps”, i.e. sexual traps organized or exploited by Russian services to collect videos, photos, confidences or compromising statements to then use as leverage on foreign politicians and businessmen.
Surveillance and “kompromat”
In Russia, the risk of surveillance, intelligence gathering and “kompromat” – compromising material that can be used for pressure or blackmail – is not a fantasy. A US Senate analysis of Russian interference in 2016 recalls that the famous Ritz-Carlton in Moscow was assessed as a high-risk environment for counterintelligence: probable presence of personnel linked to Russian intelligence, government surveillance of the rooms and regular presence of prostitutes, at least with the tacit tolerance of the authorities.
Politicians, managers and foreign public figures who participate in an event controlled by the Kremlin, in a country where the services have a long tradition of influence operations, are potential targets of sexual blackmail: all it takes is a telephone, a hotel room, a confidential meeting, a recorded conversation or an embarrassing encounter.
The precedent of Epstein and the edge of the evidence
Jeffrey Epstein himself had relationships with high-level Russian figures, some with intelligence ties. Among the names was Sergei Belyakov, former Russian deputy minister of economic development and then head of the foundation linked to Spief.