Russia launched a retaliatory strike on Ukrainian oil, gas, and power infrastructure on Thursday night, following Ukrainian drone attacks on Russian refining capacity. The Russian Defense Ministry confirmed the attack, stating that high-precision long-range weapons and drones were used to target Ukraine’s fuel and energy facilities. Moscow claimed that all targets were successfully hit, disrupting Ukraine’s military industry enterprises and fuel supply to the Ukrainian army.
The escalating conflict has raised concerns internationally, with the White House expressing worry about rising oil prices due to the reduction in Russian refining capacity caused by the Ukrainian drone strikes. The United States has urged Ukraine to cease its attacks on Russian oil refineries to prevent further retaliation and oil price spikes.
According to Reuters estimates, Ukrainian drone strikes have taken offline 14% of Russia’s total refining capacity, leading to a 12% decrease in gasoline production in the last week of March. Despite the impact on Russia’s refining sector, the domestic market has not yet felt significant effects, partially due to increased fuel imports from Belarus.
The situation remains tense as both countries continue to engage in attacks on critical energy infrastructure. The international community is closely monitoring the situation, with fears of further escalation and its potential impact on global oil prices.
