Ukrainian drones struck a Russian oil terminal and naval base in St. Petersburg on Wednesday, just hours before an economic conference dubbed “Putin’s Davos” kicked off in the city.

The attacks were a “clear attempt to embarrass the Kremlin chief,” Reuters wrote: Ukrainian drones have been striking deeper into Russia amid a military and diplomatic deadlock.

Kyiv’s strategy of long-range drone assaults are denting Russia’s economic engine, leading to the risk of fuel shortages.

Some Russian executives gathering in St. Petersburg argued the best way to restore growth is to cease hostilities with Ukraine. “The question is: does this war end or do we stare into a much tougher future?” ⁠one attendee said.