Russian oil exports have fallen as Ukraine intensifies drone strikes on refineries, while Moscow continues to channel energy revenues into funding its war effort.
Since August, 16 of the country’s 38 refineries have been targeted, some of them multiple times, including Ryazan, Russia’s largest refinery, located south-east of Moscow, which produces 340,000 barrels per day.
Diesel exports have also been hit by the repeated Ukrainian strikes. Russia is the world’s second-largest exporter of diesel, with around half of its output shipped to Turkey.
While Ukraine continues to press for new sanctions against Moscow, president Volodymyr Zelenskyy recently remarked that the most effective sanction was “the fires in refineries and depots.”
He also told reporters last week that production of long-range drones would be stepped up.
