The St. Petersburg International Economic Forum (SPIEF) has begun in Vladimir Putin’s home city, overshadowed by recent Ukrainian drone strikes on a nearby oil terminal. This annual business event, known informally as “Putin’s Davos,” is hosting approximately 20,000 guests from 130 countries. The event, where Putin often displays his diplomatic influence, began under a cloud of black smoke due to the strikes on Russian infrastructure.
Oil Terminal Target
On Friday, President Putin is expected to attend the forum. Among the attendees is Rodney Mims Cook Jr., chairman of the US Commission of Fine Arts. He has contributed to significant architectural projects, including a plan for an extension to the White House.
Long-range drones targeted oil storage facilities, causing explosions and black smoke visible in Russia’s second city. The attacked terminal, located on the Gulf of Finland at the Great Port of St. Petersburg, is one of Russia’s largest for fuel storage and export, handling 12.5 million tons per year. The Kyiv Independent reported that Ukraine’s Security Service, Unmanned Systems Forces, Special Operations Forces, and Defense Intelligence orchestrated the strikes.
‘Long-range Sanctions’
Russian authorities confirmed that 59 drones were intercepted overnight, with three districts of St. Petersburg affected. No casualties were reported. Kremlin spokesman Dmitry Peskov stated, “our responses will be systemic in nature.” Mobile internet faced disruption, and Pulkovo Airport was temporarily closed.
Ukraine’s President Volodymyr Zelensky described the strike as a part of Ukraine’s “long-range sanctions.” The oil trans-shipment facility is roughly 680 miles from Ukraine’s border. Ukraine also targeted the Kronstadt naval base and shipyard in Leningrad oblast, home to Russia’s Baltic fleet.
‘Terrorizing Civilians’
Kyiv officials took pride in these attacks. Serhii Sternenko, an adviser to the Ukrainian defense minister, noted that the forum in St. Petersburg began with a “nice plume of black smoke” due to the strikes. Ukraine has increased its drone strikes within Russia. In response, Moscow launched one of its largest drone and missile assaults on Tuesday, possibly reflecting challenges on the battlefield. At least 21 people were killed during attacks on Kyiv and Dnipro.
Yuriy Boyechko, CEO of Hope for Ukraine, believes that the increase in Russian strikes on Ukrainian infrastructure stems from military setbacks. He stated, “This pattern of terrorizing civilians serves as a metric of military frustration, highlighting Moscow’s reliance on violence against innocent people over battlefield success.”
Notable Attendees at the Forum
The presence of Rodney Mims Cook from the U.S. Fine Arts Commission marks an unusual attendance by a U.S. official, even though he is not part of an official delegation. Cook has been active with the World Monuments Fund as a Russia specialist, advising on the Resurrection Cathedral’s restoration at the New Jerusalem Monastery.
Participants include politicians from Germany’s far-right Alternative for Germany (AfD), such as Markus Frohnmaier and Steffen Kotré. Additionally, Russia has invited other far-right figures from the West, such as podcaster Candace Owens.
Former German Chancellor Gerhard Schröder and far-right influencer Andrew Tate have also been seen in Moscow this week. Their attendance at the forum remains uncertain. Presidents of Uzbekistan and Tanzania, Shavkat Mirziyoyev and Samia Suluhu Hassan, are expected to address the forum alongside Putin. Chinese Vice-President Han Zheng and Saudi Oil Minister Abdulaziz bin Salman al-Saud will also make appearances.