Putin Addresses Economic Forum Amid Ukrainian Drone Strikes

Russian President Vladimir Putin is scheduled to deliver a speech at the International Economic Forum in St. Petersburg on June 5, 2026, following recent Ukrainian drone strikes in the city. The attacks resulted in an oil terminal fire, airport disruptions, and a temporary suspension of cellphone internet service. Putin's speech comes as Russia's economy faces stagnation, prompting the government to raise taxes and increase domestic borrowing. He emphasized the need to strengthen air defenses against Ukrainian attacks and expressed a willingness to negotiate with Ukraine for a peaceful resolution. Ukrainian President Volodymyr Zelenskyy has proposed direct negotiations, which the Kremlin acknowledged. The forum is expected to host over 24,000 attendees, although Western participation remains limited since the onset of the war in Ukraine.