Russian President Vladimir Putin is scheduled to deliver a speech Friday at the country's annual flagship economic forum, held in St. Petersburg. The conference takes place against a backdrop of recent Ukrainian drone strikes that targeted the host city.

The economic forum, often referred to as Russia's version of the World Economic Forum in Davos, brings together government officials, business leaders, and international participants to discuss economic policy and investment opportunities.

This year's gathering highlights contrasting attitudes within Russia toward relations with Western countries. While some influential Russians advocate for maintaining distance from Western nations, others push for restoring economic and diplomatic ties with what they consider friendly Western figures.

The conference comes at a time when Russia faces economic challenges, with some analysts pointing to signs of economic stagnation. The forum serves as a platform for Putin to address these concerns and outline the government's economic strategy.

Among the international attendees are controversial Western figures who have expressed support for Russian positions, illustrating the complex dynamics of Russia's selective engagement with Western voices that align with its interests.

The timing of Putin's address follows heightened security concerns after drone attacks struck St. Petersburg, adding a security dimension to an event traditionally focused on economic matters and international business relationships.