Ukraine hits St. Petersburg site as Putin’s Davos kicks off

Key Points:

• Ukraine launched a coordinated attack on key Russian military and infrastructure targets in St. Petersburg, including the Petersburg Oil Terminal and the Kronstadt naval base, roughly 1,100 kilometers from Ukraine.
• The strike occurred just before the start of the St. Petersburg International Economic Forum, a major event aimed at showcasing Russia's global economic ties and resilience amid international isolation.
• Russian authorities confirmed damage and injuries from UAV attacks in several districts of St. Petersburg but did not explicitly confirm damage to the oil terminal, though local investigations suggest it was hit.
• The forum attracted a diverse group of attendees, including a U.S. delegation for the first time since 2018, controversial figures such as Candace Owens and Andrew Tate, and actor Steven Seagal, highlighting the event's geopolitical and cultural significance.
• Ukraine’s ongoing campaign of long-range strikes has severely impacted Russia’s oil refining capacity, reportedly disabling 40 percent of it this year, according to President Zelenskyy.