Ukraine-Russia war latest: Kyiv strikes Baltic Fleet warship near St Petersburg as ‘Russian Davos’ kicks off

Putin believes his forces can achieve his goals despite Russia’s battlefield performance steadily declining in 2026, says think tank

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• Vladimir Putin warned by his own officials that mounting cost of Ukraine war is ‘unsustainable’
• Marta Kostyuk blasts Russian players for Ukraine war silence ahead of French Open clash with Mirra Andreeva
• ‘I’ve lost hope’: Ukraine reels after Russia launches one of the largest attacks of the war
• Russian spies are going after Western technology – they care less about being caught

Key Points

• Kyiv strikes Baltic Fleet warship near St Petersburg
• Putin's 'Russian Davos' under attack from Ukrainian drones
• Zelensky asks Trump for more Patriot missiles interceptors to stop Putin's attacks
• Zelensky warns Putin can launch a new assault after 23 killed in one of the biggest Russian attacks
• Flights cancelled as Russia repels drone attack over Leningrad and Moscow ahead of major forum

Kyiv strikes Baltic Fleet warship near St Petersburg

Ukrainian drones hit a warship and an oil terminal around St Petersburg on Wednesday, hours before Vladimir Putin's showcase economic forum got under way in the city.

Ukraine's military said it struck the Boikiy corvette, stationed in a dry dock at Russia's Baltic Fleet base in Kronstadt overnight.

The strike caused a massive fire aboard the vessel, it said in a statement.

Ukraine released a video which showed a drone striking the Boiky.

Unconfirmed video posted to social media showed locals filming Ukrainian aeroplane-style drones as they flew over parts of the city as fires appeared to rage at the export fuel terminal in the background.

What sounded like anti-aircraft fire could be heard as one drone flew on unhindered.

Russian spies are going after Western technology – they care less about being caught

Russian intelligence agencies have grown more aggressive in their efforts to steal Western technology and defence secrets, as sanctions squeeze the country's wartime economy, three senior European intelligence officials have told The Associated Press.

Moscow's agents are reportedly establishing shell companies, recruiting intermediaries, and deploying cyber spies and hackers. They are gathering intelligence that could also be used to target critical infrastructure.

Four years of international sanctions have curtailed Moscow's procurement of machinery, technology, and research from Europe. The grinding war in Ukraine has simultaneously taxed key industries, pushing the country towards a potential financial crisis.

Russian spies are going after Western technology – they care less about being caught

Ukraine says it struck a warship at Russia's Baltic Fleet base

Ukraine's military said it struck a warship at Russia's Baltic Fleet base overnight.

The strike caused a massive fire aboard the Boikiy corvette, it added in a post on the Telegram app.

Recap: Russia pounds Ukraine in one of the largest attacks of the war

At least 22 people have been killed across Ukraine after Russia launched one of the largest aerial attacks of the four-year war overnight.

Russian forces launched 73 missiles and 656 attack drones at targets in Ukraine, according to Ukraine’s Air Force, which added that 40 missiles and 602 drones had been downed or intercepted.

But 30 ballistic missiles, three cruise missiles and 33 attack drones struck 38 locations nationwide, it added, with more than 500 emergency service workers drawn own to put out fires and rescue people trapped in flattened homes.

‘I’ve lost hope’: Ukraine reels after Russia launches one of war’s largest attacks

Watch: Zelensky warns Russian forces could again launch a massive attack on Ukraine

Britain, France and Germany expected to fill US void in dialogue with Russia

A German official said on Wednesday that a window for dialogue is slowly opening between Russia and Europe on Ukraine, with no progress on US-mediated talks.

The official added that there are strong indications the E3 Group - Germany, France and Britain - will continue to play an important role in this regard.

Advances by Russian forces have slowed this year, and Ukrainian troops are increasing pressure on the battlefield and through an intensified campaign of long-range strikes inside Russia.

Ukrainian President Volodymyr Zelensky's chief of staff has said that agreeing a deal to end the war by winter was a "realistic" outcome.

The German official said recent fighting indicates the dialogue process is likely to take months, rather than weeks, and that it was key to ensure they were conducted in full agreement with Ukraine.

Coordination - instead of competition - with the United States, whose brokered talks have stalled as Washington focuses on Iran, must also remain a guiding principle, said the official.

Vladimir Putin warned that cost of Ukraine war is ‘unsustainable’

Vladimir Putin has been warned that he cannot afford to sustain his war in Ukraine at the current pace, as Kyiv continues to tally frontline wins and devastate energy infrastructure deep inside Russia.

Top finance officials and Russia’s central bank are said to have urged the Kremlin to rein in spiralling defence spending, as both sides ramp up costly aerial attacks on vital infrastructure.

Ukrainian foreign minister Andrii Sybiha said on Tuesday that Moscow is “losing on the battlefield” and “has no cards except terror”, despite a major blitz of cities across Ukraine overnight that killed at least 22 people.

Putin warned by his own officials that cost of Ukraine war is ‘unsustainable’

In pictures: Smoke billows over St. Petersburg following drone attack

Smoke billows over St. Petersburg following Ukrainian drone attack

Thick grey smoke was seen rising into the air on the outskirts of St. Petersburg on the first day of Russia's annual economic forum there after an overnight Ukrainian drone attack, according to Reuters witnesses on Wednesday.

Ukrainian President Volodymry Zelenskiy said his drones had struck an oil terminal in St. Petersburg and Alexander Beglov, the governor of St Petersburg, said that unspecified "infrastructure objects" had been hit in three districts of the city.

Preview: Putin's 'Russian Davos' under attack from Ukrainian drones

Ukraine launched a major attack on a St Petersburg oil port on Wednesday ahead of a major economic forum hosted by Vladimir Putin in the city.

The investment forum has been described as Putin’s ‘Russian Davos’ and will bring together leaders from around the world as the Kremlin looks to stoke Russia’s war-weary economy.

Growth is the main theme at the St. Petersburg International Economic Forum, which runs from June 3 to 6.

Delegates are likely ​to discuss strategies including the redistribution of labour to faster-growing sectors and the promotion of AI-powered digital platforms in e-commerce and banking. Officials also hope that consumer demand will grow.

Putin is to deliver his keynote speech on Friday at a session also to be attended by presidents of Uzbekistan and Tanzania, as well as China's vice president and Saudi Arabia's energy minister, the schedule shows.

A prominent right-wing U.S. influencer, a serving US official and a German retail billionaire are also expected to attend the forum.

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