A series of Ukrainian drone strikes targeted critical energy and military facilities in Russia early on Wednesday, coinciding with the opening of Russia's annual economic forum in St. Petersburg, which President Vladimir Putin was scheduled to attend. A grey and black plume of smoke was observed rising over St. Petersburg as officials gathered for the event. Ukrainian drones successfully struck the Petersburg Oil Terminal, located approximately 1,100 kilometers (680 miles) from the Ukrainian border, as well as purely military targets at the Kronstadt base, a naval base and shipyard home to Russia’s Baltic fleet. Additionally, an enterprise in the Tambov region involved in Russian weapons production was hit. The city's governor, Alexander Beglov, reported that several infrastructure facilities in the Kronstadt, Kirovsky, and Krasnoselsky districts were affected, with cleanup efforts underway and several people injured but no fatalities. These strikes, causing loud explosions and visible smoke, were seen as deeply embarrassing for the Kremlin, taking place just about 10 miles from the forum, leading to the temporary closure of St. Petersburg's airport.

The international economic forum, described as Russia's answer to Davos, was expecting around 20,000 visitors from 130 countries over three days. Notable attendees included former German chancellor Gerhard Schröder, far-right American influencer Candace Owens, the Tate brothers, Rodney Mims Cook Jr. (leading a US delegation), and former Hollywood actor Steven Seagal. Since Russia's full-scale invasion of Ukraine in 2022, most Western investors have stayed away, with the Kremlin now inviting close regional and other allies such as the presidents of Uzbekistan and Tanzania, and ministers from Cuba, Belarus, and Saudi Arabia, reflecting a shift towards