The St. Petersburg International Economic Forum (SPIEF) has commenced in Vladimir Putin’s hometown under tense circumstances. Ukrainian drone attacks at an oil terminal near the city have cast a shadow over the event. Often compared to Davos, the forum aims to highlight Putin’s influence, attracting 20,000 guests from 130 countries.
The forum kicked off as black smoke bellowed from an oil facility and a naval hub, resulting from recent Ukrainian attacks on Russian infrastructure. The Russian president is scheduled to appear on Friday. Rodney Mims Cook Jr., chair of the US Commission of Fine Arts, one of the attendees, played a role in approving plans for a new ballroom extension at the White House.
Oil Terminal Strikes
Long-range drones targeted oil storage facilities in St. Petersburg, causing explosions and thick smoke. The terminal, located on the Gulf of Finland at the Great Port of St. Petersburg, is a major fuel storage and export site with an annual throughput of 12.5 million tons. The strikes involved bodies like Ukraine’s Security Service and Special Operations Forces, as reported by the Kyiv Independent.
‘Long-range Sanctions’ and Responses
Russian air defenses reportedly downed 59 drones overnight, hitting three St. Petersburg districts. No casualties were reported. Kremlin spokesman Dmitry Peskov mentioned that the responses would be organized and comprehensive. Mobile internet faced disruptions, while Pulkovo Airport experienced a temporary closure.
Ukrainian President Volodymyr Zelensky referred to the strike as a part of Ukraine’s ‘long-range sanctions,’ noting that the facility was approximately 680 miles from Ukraine’s border. Ukraine also targeted the Kronstadt naval base in Leningrad oblast, where Russia’s Baltic fleet is based.
Heightened Conflicts
Serhii Sternenko, an adviser to Ukraine’s defense minister, commented on the attacks, mentioning the strikes coincide with the forum’s opening. Ukraine has increased drone assaults deep within Russia. Russia responded with large drone and missile strikes, killing at least 21 people in Kyiv and Dnipro.
Yuriy Boyechko, CEO of Hope for Ukraine, noted that Russia intensifies attacks on Ukrainian infrastructure due to military setbacks, saying these acts signify an increased use of blunt force against civilians.
Forum Attendees
This year’s forum sees Rodney Mims Cook representing the U.S., marking the first high-level attendance in years. Though not part of a government delegation, Cook is a Russia specialist and worked on the New Jerusalem Monastery in Russia. Additional attendees include figures like Markus Frohnmaier and Steffen Kotré from Germany’s AfD and U.S. podcaster Candace Owens.
Former German chancellor Gerhard Schröder, whom Putin prefers as a European envoy, and influencer Andrew Tate were seen in Moscow, though their participation in the forum remains uncertain. Reports indicate presidents of Uzbekistan and Tanzania, Chinese vice-president Han Zheng, and the Saudi oil minister are expected to share the stage with Putin on Friday.
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