Russian oil refineries

Ukrainian Strikes More Damaging to Russian Economy Than Sanctions, Says Intelligence Chief

According to Kyrylo Budanov, Head of Defence Intelligence of Ukraine (DIU), Ukrainian strikes on Russian oil refineries have inflicted greater economic damage than international sanctions. Budanov stated that the majority of these strikes utilize domestically produced munitions. He also noted that current sanctions are insufficient and that Russia still possesses the resilience to sustain the war for a considerable period, despite its increasing economic challenges. Finally, Budanov mentioned that without its allies, Russia would have already lost the war.

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Ukraine’s Drone Attacks Cripple Russian Fuel Supply, Sparking Crisis in Over Half of Regions

The fuel crisis gripping Russia has spread to over half of its administrative regions, stemming from escalated Ukrainian drone attacks on Russian oil refineries, which have significantly reduced refining capacity. The Far East and occupied Crimea have been the hardest hit, with rationing and severe shortages, while central regions experience disruptions. The Russian government has downplayed the crisis, attributing it to logistical issues, and has responded by banning fuel exports and seeking support from Belarus and China. Experts predict the duration of the crisis depends on the frequency of future attacks on refineries, with hundreds of gas stations already closed across the country.

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Ukrainian Drones Strike Russian Refinery, Fueling War’s Economic Impact

Ukrainian drones strike one of Russia’s biggest refineries, and it seems the hits just keep on coming. Reports indicate that Ukraine recently targeted the Kirishi refinery in Russia’s Leningrad Oblast. This isn’t just any old facility; it’s one of Russia’s major oil refineries, accounting for a significant chunk – roughly 6.4% – of their refining capacity. The strategic importance of such strikes is undeniable, as they directly impact Russia’s ability to produce and supply petroleum products.

Following the attacks, initial reports from Russia claimed that three drones were successfully neutralized, with debris from one causing a fire. Fortunately, there were no reported injuries, and the fire was quickly extinguished.… Continue reading

Russian Refinery Closures Loom: Impact on Global Oil Markets Debated

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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