A series of targeted Ukrainian drone strikes on Russian oil facilities, combined with lower crude prices and a strong ruble, is putting significant pressure on Russia's vital energy sector. The attacks have contributed to Russian gasoline sales hitting a two-year low, while the country's oil and gas revenues are projected to decline substantially this month [1].
Ukraine has intensified its campaign of long-range drone strikes against Russian oil infrastructure, specifically targeting the country's most valuable industry. These strategic attacks aim to disrupt Russia's ability to generate revenue from oil and gas exports, which are crucial for funding its military operations [2].
The impact of these strikes is becoming increasingly apparent in Russia's domestic market, where gasoline sales have dropped to their lowest level in two years. This decline comes at a particularly challenging time, coinciding with increased demand during the harvest season [1].
The situation is further complicated by broader market dynamics, with U.S. crude oil inventories experiencing a significant decrease of 9.3 million barrels in recent weeks [3]. This development has contributed to upward pressure on global oil prices, though Russia has been unable to fully capitalize on this trend.
The European Union is actively working to reduce its dependence on Russian energy, while also seeking to influence other major economies to limit their Russian oil purchases. This is evident in the EU's diplomatic efforts with India, where Russian oil purchases have become "an obstacle" to closer ties between the two regions [4].
