Leaders of Russian industry, lined up under company banners to greet President Vladimir Putin in St Petersburg last week, looked like soldiers standing to attention for their commanding officer. Some had flown hundreds of miles for a place in the parade.

A month before world leaders fly into the city for the summit of the Group of Eight industrialised nations, the investment forum in Mr Putin's home city was designed to showcase Russia's economic resurgence. As top executives oozed a confidence born of $70-a-barrel oil and the economic recovery it has generated, the message was clear: Russia is back - and is aggressively eager to use its natural resources as tools to regain its influence in the world.