Drone strikes hit Russia during a major economic forum and Russia is now hinting at nuclear retaliation — a dangerous step up in a war that keeps grinding on, and bad news for anyone hoping it ends soon.

• Long-range drones struck St. Petersburg during Russia's big investment forum, killing and injuring civilians.
• Russia is hinting it could use nuclear weapons, even against other nuclear-armed countries, framing the attacks as crossing a red line.
• Ukraine now builds its own cheap, precise drones with private donor money, so cutting Western funding alone won't stop the attacks.
• The push is to freeze the war along the current front line, like the Korean War armistice, but neither side will agree to it.
• Iran is also stepping up, hitting US bases and Kuwait's airport, while oil supplies tighten and US gas, food, and living costs climb.

Outlook: More escalation is expected through June and July, with warnings of oil shortages, higher prices, and a possible economic crunch by midsummer.