Among the 260 guests were senior figures from the British and Russian business communities and selected representatives of the press.

While conversation inevitably focused on the global financial, economic and banking crisis and its impact on Russia there was an air of optimism I the residence as it became clear that Russian and British government representatives are renewing political and diplomatic contact in intense discussions aimed at cooperating in efforts to deal with the crisis.

There was considerable optimism about the visit to Moscow of Lord Mandelson, the shock appointment as new British Business Secretary due to take place at the end of October. Lord Mandelson has built up a steady rapport with senior Russian political and business figures during his tenure as European Commissioner for Trade.