Over the past three years, Russian coal exports have significantly decreased, falling to 195 million tonnes in 2024—a 17.5 million tonne drop from 2023 and a 26.2 million tonne decrease from 2022. This decline is attributed to a confluence of factors including Western sanctions, a European embargo on Russian coal, and severe logistical bottlenecks within the Russian railway system. These issues, coupled with historically low export prices, resulted in an overall loss of RUB 81 billion (US$810 million) for Russian coal companies. Consequently, Kemerovo Oblast, Russia’s primary coal-producing region, also saw production decline by 15.8 million tonnes.
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Three Russian oil refineries—Tuapse, Ilyich, and Novoshakhtinsk—have curtailed or halted production due to mounting losses stemming from Ukrainian drone strikes, Western sanctions, and reduced profit margins. These plants, operating at reduced capacity or facing temporary closures, are experiencing significant financial strain, selling fuel at a discount and incurring high interest rates. The resulting drop in fuel exports and revenue impacts the state budget, exacerbating existing economic pressures. This situation is further complicated by increased oil costs exceeding the profit threshold for independent refiners.
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Russian oil refineries are significantly reducing production, leading to substantial financial losses and raising the very real possibility of closures. This dire situation is a direct consequence of the ongoing war in Ukraine and the subsequent international sanctions imposed on Russia. The impact extends beyond the immediate economic hardship faced by the refineries themselves; it underscores a broader failure of Russia’s economic strategy, a failure deeply intertwined with its authoritarian leadership and its aggressive foreign policy.
The current predicament highlights a critical flaw in Russia’s approach. The country’s economic health has been severely compromised by the war, and the sanctions have significantly hampered its ability to sell its oil products profitably on the global market.… Continue reading
Russia’s recent decision to ban gasoline exports for six months starting from March 1 has sparked a myriad of reactions and speculations. The rationale behind this move seems to be multifaceted, with some attributing it to the need for fuel for domestic consumption and the ongoing war, while others see it as a strategic maneuver to stabilize the ruble and manipulate the energy market to Russia’s advantage.
The effectiveness of Ukraine’s drone attacks on Russian refineries cannot be discounted in this context. These targeted strikes have proven surprisingly successful in disrupting Russia’s refining capacity and impacting its ability to export refined oil products.… Continue reading
John Q. Hosedrinker 
Matt Underwood