Many years ago, the St. Petersburg International Economic Forum hosted world leaders such as Angela Merkel, Xi Jinping, Emmanuel Macron, and José Luis Rodríguez Zapatero. Russia’s invasion of Ukraine in 2022 changed everything. The Kremlin’s flagship business event is now a pale imitation of what it once was. This year, its main attractions have been a philosopher of Russian ultranationalism, Donald Trump’s chair of the Commission of Fine Arts, and Russian President Vladimir Putin.

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Poised to become the king of pipelines, with a total route of more than 2,600 kilometers (1,615 miles), Power of Siberia-2 is set to change two things forever: global natural gas flows and the already solid alliance between China and Russia. A few loose ends remain before it becomes reality, but after Tuesday’s meeting between Xi Jinping and Vladimir Putin, the road appears paved for the pipeline that will link the Yamal Peninsula ― one of the world’s largest gas fields ― with Beijing and Shanghai to come to fruition.

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