Putin hosts St. Petersburg Economic Forum as Ukrainian drone strikes hit city
Russian President Vladimir Putin opened the St. Petersburg International Economic Forum on Wednesday as Ukrainian drone strikes targeted the city, setting an oil terminal ablaze and damaging a navy corvette. The Kremlin showcased a “multipolar world” with leaders from Uzbekistan, Tanzania, China, and Saudi Arabia attending, while state media downplayed the attacks. The forum, once a magnet for Western officials, now features German far-right AfD politicians and a U.S. delegate authorized by President Donald Trump.
Ukrainian drone strikes hit St. Petersburg on Wednesday, the opening day of the St. Petersburg International Economic Forum, setting an oil terminal ablaze and damaging a navy corvette as Russian President Vladimir Putin hosted the event.
An oil terminal at the St. Petersburg port was set ablaze, with black smoke visible from the forum's expo grounds in the south of the city. Ukrainian footage showed a large explosion aboard the corvette Boikiy on a military shipyard on Kotlin Island. Telegram videos from Wednesday morning showed a uniformed soldier unsuccessfully attempting to shoot down a drone with an assault rifle while young men filmed and laughed; state television did not broadcast the images.
Kremlin spokesman Dmitry Peskov said: "Our responses will be systemic in nature" and the "special military operation" will continue "so that there are no such strikes."
Putin held his annual meeting with heads of international news agencies on Thursday, part of the forum program. On Friday he is scheduled to deliver his main forum address. The Kremlin showcased a "multipolar world" by placing the presidents of Uzbekistan and Tanzania, plus guests from China and Saudi Arabia, alongside Putin at the event.
Denis Pushilin, the Russian-installed leader in occupied Donetsk, told TASS about developing fisheries and winemaking in the region. "We see the prospect of developing the fishing industry in the Donetsk People's Republic, but in subsequent stages," he said, attributing a "small pause" to a lack of regulation rather than the war. He also described winemaking as a future model for Donetsk due to climate change.
Andrei Bezrukov, a former FBI-detained agent who was exchanged in 2010 and now advises Rosneft head Igor Sechin, said during a forum panel on "Russia's threats" that Russia must prepare for "a few decades of war." He noted the escalation level is rising, as seen in St. Petersburg.
German far-right AfD Bundestag deputy Markus Frohnmaier attended the forum, calling for good Russia-Germany relations and the restart of the Nord Stream pipeline. "Germany would benefit from advantageous energy prices through good relations with Russia," TASS quoted him as saying. Kirill Dmitriev, Putin's special envoy for economic cooperation, posted on X a photo with Frohnmaier, writing: "Looking forward to building a great FUTURE together with the AfD, Germany's most popular party." Dmitriev said they also discussed "restarting the Russia-Germany-US business dialogue."
Rodney Mims Cook Jr., chairman of the U.S. Commission of Fine Arts, attended as head of an "official U.S. delegation" authorized by President Donald Trump. Cook told TASS that Trump "allowed" him to accept the invitation to St. Petersburg. He said he was tasked with delivering a copy of an icon to a city monastery, reciprocating Putin's gift of an icon to a church in Alaska during the two leaders' meeting in Anchorage in August 2025.
Putin's daughters Maria Vorontsova and Katerina Tikhonova appeared at the forum, with Tikhonova joining via video link as in 2024 and 2025.
Central Bank chief Elvira Nabiullina was absent. State media outlet Vedomosti initially cited the funeral of one of her advisers as the reason; on Thursday the central bank said she was ill.