Russia’s Fuel Exports Plunge, Boding Ill for War Effort
Russia’s refined fuel exports have plummeted to levels not seen since the start of the war, a result of refinery shutdowns and increasing Western sanctions. Overall seaborne oil product shipments in October reached their lowest volume since early 2022, despite stable diesel exports. Ukraine’s attacks on Russian energy facilities, combined with US sanctions and upcoming deadlines, are further disrupting Moscow’s energy revenue stream, a crucial source of income for the war. President Zelensky has indicated Ukraine’s intention to expand its long-range strike capabilities, hinting at further targeting of Russia’s oil industry.
John Q. Hosedrinker