Ukrainian Drones Strike St Petersburg as Putin’s Economic Forum Opens
Ukrainian drones struck residential areas of St Petersburg on Tuesday morning, just hours before Russian President Vladimir Putin was set to open the Eastern Economic Forum (EEF), an event often described as Moscow’s answer to the World Economic Forum in Davos. The attacks, which Russian officials confirmed were carried out by unmanned aerial vehicles, marked the first direct strike on the city since Ukraine launched its counteroffensive in June 2023, escalating tensions as Putin sought to project economic stability amid a war that has reshaped Russia’s geopolitical standing.
The strikes, which targeted the Frunzensky and Krasnoselsky districts, injured at least five civilians, according to Russian state media reports. Ukrainian President Volodymyr Zelenskyy later described the operation as “fair,” framing it as a response to Russia’s ongoing aggression and the forum’s role in legitimizing Moscow’s war economy. “The forum is not just a gathering of business elites—it’s a platform for Putin to showcase Russia’s resilience while the country is under siege,” Zelenskyy said in a statement released through his office, adding that Ukraine’s military would continue to target infrastructure critical to Russia’s war machine.
The EEF, now in its ninth year, has become a key propaganda tool for the Kremlin, attracting foreign investors and state-backed delegations despite international sanctions and the isolation of Russia’s economy. This year’s event, themed “New Opportunities for the Far East,” was set to feature high-profile attendees, including Chinese officials and representatives from India, Iran, and the United Arab Emirates—countries that have maintained or deepened economic ties with Moscow despite Western opposition. Putin’s opening speech was expected to emphasize Russia’s post-war reconstruction efforts, particularly in the Far East, a region Moscow has prioritized as a counterbalance to sanctions-induced losses in Europe.
Russian authorities quickly downplayed the impact of the strikes, with St Petersburg Governor Alexander Beglov stating that the city’s air defense systems had intercepted most drones and that the damage was minimal. However, images shared on social media showed debris and damaged buildings, contradicting official claims of limited disruption. The attacks also raised concerns about the effectiveness of Russia’s air defense networks, which have faced repeated challenges from Ukrainian strikes in recent months, including high-profile attacks on Crimea and Moscow itself.
Diplomatic reactions were swift. The U.S. State Department condemned the strikes, calling them “a reckless escalation” that threatened civilian lives. European Union officials echoed the sentiment, with a spokesperson for the European Commission stating that the attacks underscored the “urgent need for de-escalation.” Meanwhile, Ukraine’s military command confirmed the operation, stating that the drones were part of a broader campaign to disrupt Russia’s economic and military capabilities ahead of the forum.
The timing of the strikes—coinciding with the EEF’s opening—suggested a deliberate attempt to undermine Putin’s efforts to portray Russia as a stable investment destination. Analysts noted that the forum’s attendance had dwindled in recent years, with many Western firms pulling out due to sanctions and reputational risks. This year’s event, however, included a notable presence from China, which has increasingly positioned itself as a counterweight to Western sanctions, signaling that some global players remain willing to engage with Moscow on economic terms.
As the forum’s first day proceedings began, Russian officials maintained that the attacks would not deter participation. However, the strikes cast a shadow over the event, with security measures reportedly tightened across St Petersburg. Ukrainian officials, meanwhile, signaled no intention of scaling back their operations, framing the EEF as a prime target given its symbolic and economic significance.
With no immediate signs of a diplomatic breakthrough, the attacks left unresolved the core tensions between Ukraine’s military strategy and Russia’s attempts to normalize its war economy. The EEF’s continuation, despite the strikes, underscored the Kremlin’s determination to proceed with the forum, even as the war’s human and economic tolls mounted.