Support The Moscow Times!

U.S. Ambassador Will Boycott St. Petersburg Forum Over Detained Investor

Jon Huntsman Tom Wolff / Flickr (CC BY-NC 2.0)

U.S. Ambassador to Russia Jon Huntsman will boycott Russia’s showcase economic forum in St. Petersburg in June in response to the house arrest of American investor Michael Calvey, a U.S. Embassy spokesperson told media.

Calvey, who was transferred to house arrest last month, faces up to 10 years in jail if convicted on embezzlement charges related to his Baring Vostok private equity fund. The high-profile case has rattled some foreign investors in Russia and stoked talks of a possible U.S. boycott of the St. Petersburg International Economic Forum (SPIEF) which is attended by President Vladimir Putin.

Huntsman will ignore SPIEF because of Calvey’s prosecution, U.S. Embassy spokeswoman Andrea Kalan told Agence France Presse.

Mr. Calvey's continued house arrest and criminal prosecution undermines efforts to create the stability needed to attract new investment and encourage more robust business interaction,” Kalan was quoted as saying.

Calvey denies the charges levelled against him and has said that the case is being used against him in a business dispute.

A Moscow court has ruled to extend Calvey's house arrest through July 14 and the investigation into Baring Vostok until Aug. 13.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more