By Matthew Luxmoore

ZAPORIZHZHIA, Ukraine -- Ukrainian drones hit an oil terminal in St. Petersburg on Wednesday, in a demonstration of Kyiv's military capabilities on the inaugural day of a major economic forum in the city set to be attended by President Vladimir Putin.

Plumes of black smoke blanketed swaths of the city center as international guests began arriving for the first day of the St. Petersburg Economic Forum, where Putin is expected to deliver a speech on Friday.

Ukraine said it hit the city's main oil export terminal, as well as a naval base in the nearby city of Kronstadt and several facilities in the surrounding region that Kyiv said are involved in the production of weapons for Russia's armed forces.

"Important facilities on Russian territory were hit last night," Ukrainian President Volodymyr Zelensky wrote on X. "Ukraine's plan for long-range sanctions is being implemented exactly as needed to bring peace closer."

The St. Petersburg regional governor Aleksandr Drozdenko said 59 Ukrainian drones were downed by air defenses. Authorities in St. Petersburg said several people were injured in the attacks there. They didn't confirm that the oil terminal and naval base were struck.

The Kremlin on Wednesday cited the Ukrainian attacks as justification for its continuing invasion of Ukraine, without elaborating. It said Russia would respond systematically to Ukrainian strikes.

The damage caused by Ukrainian drones is embarrassing for Putin, who has sought to shield ordinary Russians from the war he launched more than four years ago and has dubbed a limited "special military operation."

St. Petersburg is Putin's native city, and the economic forum is a high-profile event attended by business people from across the globe. It is frequently touted by Russian officials as evidence that their country is far from a pariah state despite the war in Ukraine, and that Western sanctions haven't stymied innovation -- even though the level of attendees has slumped.

Putin traditionally attends the final day of the event to deliver keystone speeches. In recent years he has railed against Western sanctions and reiterated his willingness to keep prosecuting the war. This year, his speech will come against the backdrop of a stalled military campaign and increasing pain from Ukrainian long-range attacks.

Officials in Kyiv say the strikes, which have reached hundreds of miles into Russian territory and damaged energy infrastructure that feeds Russia's economy, are aimed at weakening Russia further and driving domestic opposition to the war.

Both sides have traded aerial assaults in recent weeks as they seek to weaken the others' resolve to keep fighting. Russia has unleashed consecutive barrages of rockets and drones against cities across Ukraine, and last month recommended Western diplomats evacuate Kyiv for security reasons.

Putin last month presided over a sharply downsized version of his annual military parade on Moscow's Red Square, after threats of drone strikes against Kyiv forced his government to scale back the annual event aimed at showcasing Russian power.

A decree published on Zelensky's website ahead of the event stated that Red Square wouldn't be targeted. But the decree included the exact grid coordinates for the square, which borders Putin's official residence inside the Kremlin.

Write to Matthew Luxmoore at matthew.luxmoore@wsj.com

(END) Dow Jones Newswires

June 03, 2026 10:06 ET (14:06 GMT)

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