The Russia Forum, held in Moscow each February, brings together politicians and business leaders to discuss investing in this vast resource-rich country.
Two problems with this:
1. Moscow in Feb is -30 degrees Celsius and I need my fingertips.
2. There was $85 billion in capital outflows last year and Russia needs investment.
Much of the investor panic is political.
In next month's presidential election, Prime Minister Vladimir Putin aims to return to power. Two terms as president from 2000 to 2008 and a further four years as prime minister, never far from President Dmitry Medvedev's elbow, wasn't enough. Putin wants a full 16 years in power.
But the middle classes and entrepreneurs are restless.
December's parliamentary election was dogged with allegations of vote rigging. Subsequent protests have attracted global attention and another protest is planned for Feb 4.
Sure, gross domestic productgrew 4.3 percent last year, but things are already looking tougher for 2012.
This political uncertainty in itself is worrying enough to investors, but what's more, business needs the regime on side to bring the reform required to support economic growth.
Even those at the heart of the system have told CNBC they agree.Page 1 of 4 | Next Page