What is the St Petersburg forum, Putin’s economic outreach to the world?

Ukrainian drones targeted energy and military sites in St. Petersburg early Wednesday morning, according to Russian and Ukrainian authorities. The attacks occurred as the city was preparing to host the annual St. Petersburg International Economic Forum, an event expected to draw approximately 20,000 guests. St. Petersburg Governor Alexander Beglov reported damage to "several" infrastructure facilities, though no fatalities were reported. Ukrainian President Volodymyr Zelensky stated that drones struck the St. Petersburg Oil Terminal and the Kronstadt military base, characterizing these actions as part of Ukraine's "long-range sanctions" strategy to advance peace.

Ukrainian drones struck energy and military sites in St. Petersburg early Wednesday, hours before the city's economic forum, described as Russia's answer to Davos, was set to open. The targets included oil storage facilities, the Kronstadt naval base and shipyard, and a weapons factory in the Tambov region, according to Ukrainian officials. Russian air defenses were reportedly unsuccessful in intercepting the long-range drones. The attacks, occurring approximately 10 miles from the forum venue, are seen as a blow to Vladimir Putin, who is scheduled to speak at the event. Ukrainian President Volodymyr Zelenskyy stated the strikes were part of Ukraine's "long-range sanctions" plan. The St. Petersburg airport was temporarily closed due to the incidents, impacting some arriving guests.

Ukrainian long-range drones struck an oil terminal in St. Petersburg, Russia, setting it ablaze. Ukrainian President Volodymyr Zelenskyy stated the drones traveled over 1,000 kilometers to reach the target. The attack occurred as St. Petersburg hosted an international economic forum attended by President Vladimir Putin. Russian authorities confirmed a drone strike targeted the city's infrastructure, leading to a brief suspension of flights at the airport and the cutoff of mobile internet services. This incident is seen as an embarrassment for Putin, occurring weeks after a reduced Victory Day parade due to drone attack fears. The strikes followed a large Russian drone and missile attack on Ukrainian cities.

The St. Petersburg International Economic Forum (SPIEF), often called the "Russian Davos," is an annual event designed to attract investors and showcase Russia's economic openness. This year's forum, commencing on Wednesday, is taking place against the backdrop of the war in Ukraine and Russia's strained relations with the West. Despite this, approximately 20,000 guests from over 130 countries are expected. The forum has become a key platform for Russia to deepen ties with countries in the Global South and demonstrate its international partnerships beyond Western nations. Notable attendees include delegations from Uzbekistan, Tanzania, and China, with Saudi Arabia as this year's guest country. The program combines investment discussions with political debates, including topics like information warfare. Hours before the forum began, Ukrainian drones reportedly struck energy facilities near St. Petersburg, temporarily disrupting airport operations, though the conference is proceeding as planned.