US Became Leading Foreign Investor in Russian Economy in 2018 - Survey

ST. PETERSBURG (Sputnik) - The United States beat China by the number of investment projects in Russia and became the leading investor in that country in 2018 for the first time since 2013 despite tense relations between Moscow and Washington in recent years, a survey, carried out by EY consultancy and obtained by Sputnik, has shown.

According to the survey, which was prepared for the St. Petersburg International Economic Forum (SPIEF) in Russia, the number of US investment projects in Russia reached 33 projects last year, growing by 74 percent compared to the previous year, when the number stood at just 19.

READ MORE: International Economic Forum to Kick Off in St. Petersburg

The second-largest foreign investor in Russia was Germany, which had 24 investment projects in Russia in 2018. At the same time, the number of projects decreased by 14 percent year-on-year, the survey showed.

Chinese investors also cut their contributions to the Russian economy and dropped to the third place, while in 2017 the country was on top of the list, the survey added.

SPIEF will start in St. Petersburg on Thursday and last through Sunday. Rossiya Segodnya International Information Agency is the official media partner of the forum.