Russian President Vladimir Putin attends an event marking the 50th anniversary of the launch of the Baikal-Amur Mainline (BAM) construction at the State Kremlin Palace in Moscow, Russia, 23 April 2024. EPA-EFE/VALERIY SHARIFULIN / SPUTNIK / KREMLIN POOL MANDATORY CREDIT


The WEF’s role in the rise of Vladimir Putin

The long-forgotten Davos Pact, and the people behind it, were to a large extent responsible for putting Putin in power, argues our columnist


1996 was a notable year for many reasons.  The peace treaty in Chechnya was signed. Britain was consumed by “mad cow” disease. And the UN tribunal accused Bosnian Muslims and Croats of war crimes.

The year also marked a significant moment in Russian history with the establishment of the Davos Pact, a shady agreement that would help pave Vladimir Putin’s to rise to power.

There was a time when Davos was little more than a fancy ski resort. All changed in 1971, when Klaus Schwab, an engineer and economist, departed from his position at the Swiss industrial conglomerate Escher Wyss to orchestrate a fortnight-long conference amid the picturesque Swiss Alps.

The European Management Forum (EMF) was designed to introduce Euro-centric economic stakeholders to modern American economic practices and to formulate “fresh” business approaches for the continent. In 1987, the EMF became the World Economic Forum (WEF), and the rest, as they say, is history. More specifically, history steeped in controversy.

In 1996, long before the unelected globalists were predicting a future where we would own nothing and be happy, they were working on ways to get the unpopular then-Russian president Boris Yeltsin re-elected for a second term.

Not an easy feat considering, in the early months of ‘96, Yeltsin’s popularity had plummeted to the extent that he was ranked fifth among Russian presidential candidates, receiving a mere 8 per cent of support. Communist Party of the Russian Federation (CPRF) leader Gennady Zyuganov was ahead in the race with 21 per cent of support.

He was the odds-on favourite to replace Yeltsin. That didn’t sit well with the Davos-dwelling elites.

Although Zyuganov promised to eliminate corruption and enhance conditions for foreign investment, the WEF wasn’t convinced.

Moreover, at the annual meeting, the Russian delegation – especially the business leaders – expressed growing apprehension regarding Zyuganov’s rising popularity and the potential triumph of the Communist party. In response, the delegation and WEF heavyweights colluded, throwing full support behind Yeltsin’s campaign by leveraging their financial influence.

This informal agreement among them became famously known as the “Davos Pact”. Against all odds, Yeltsin, a legendary drunk, was re-elected in July of 1996.

Communism was defeated – but at what cost?

One of Yeltsin’s most trusted officials was Valentin Yumashev, a man who was absolutely instrumental in current President Vladimir Putin’s rise to power. An ex-journalist turned Kremlin official, Yumashev appointed Putin to his initial position in the Kremlin, less than a year after Yeltsin began his second term in office.

Putin, a former KGB agent, excelled in his new position and quickly climbed the political ladder.

On May 25, 1998, he assumed the role of First Deputy Chief of the Presidential Staff for the regions, taking over from Viktoriya Mitina. On July 15, he was assigned as the head of the commission responsible for preparing agreements on the distribution of power among the regions, as well as the head of the federal centre attached to the president, replacing Sergey Shakhray.

Subsequently, just 10 days later, Yeltsin appointed Putin as the director of the Federal Security Service (FSB), essentially the KGB under a new name.

Then, on August 9, 1999, Yeltsin appointed him as the acting prime minister. Anyone with more than a few functioning neurons could see that Yeltsin was grooming Putin, preparing him for the presidency. On New Year’s Eve, 1999, to the surprise of most Russians, Yeltsin announced his resignation. A 46-year-old Putin assumed the role of acting president and emerged victorious in the election three months later.

Some 25 years on, Putin is still in power. But, as he admits himself, without Yeltsin’s blessing, none of that would have been possible.

And, without the WEF’s blessing, Yeltsin would have never had a second term in office.

By interfering in the Russian electoral system, “Davos Man” paved the way for Putin.

In the decades since 1996, the WEF has continued to erode democratic principles. Interestingly, in 1999, the year Yeltsin stepped down, the WEF launched the Global Redesign Initiative, advocating for a “fresh” global governance system that sought to make nation states a thing of the past.

The initiative envisioned a “multi-stakeholder” approach to policy making and governance. Ultimately it gave rise to the Great Reset, a form of “corporate socialism” that puts more power in the hands of the elites and less in the hands of European citizens.

One needn’t be a tin-foil-hat-wearing lunatic to question the WEF’s motives. In truth, one only needs to examine the Davos Pact to see just how influential Schwab and his colleagues have been – and continue to be.