The St Petersburg International Economic Forum (SPIEF), Russia’s flagship business event, has been overshadowed by drone attacks targeting the city. The attacks, which occurred in the early hours of Thursday, struck infrastructure sites near the city’s port, causing fires but no casualties according to preliminary reports. The forum, attended by delegates from over 130 countries, proceeded under heightened security.
The incident underscores the escalating reach of the war in Ukraine into Russian territory, even as President Vladimir Putin used the forum to project economic resilience. He claimed Western sanctions had failed to destabilise Russia, but the drone strikes serve as a tangible reminder of the conflict’s proximity. The attacks align with a pattern of Ukrainian incursions aimed at disrupting Russian logistics and morale.
For attendees, the juxtaposition of high-level trade talks and the sound of air defence systems creates a stark reality check on the costs of war. The forum’s agenda, heavily focused on import substitution and Asian trade partnerships, now must contend with a strategic vulnerability that no amount of diplomatic rhetoric can shield.
