Ukraine strikes on Russian energy facilities raise global oil prices
Sanctions imposed by the US in October on Russian energy giants Lukoil and Rosneft, along with EU restrictions, have further intensified the price increases. Refining margins across the US, Europe, and Asia have reached their highest levels for this period of the year since at least 2018, according to calculations cited by Bloomberg. Additional pressure comes from shutdowns and operational disruptions at refineries in Kuwait and Nigeria.
Ukraine has targeted oil depots, processing facilities, and metering stations with drones and missiles, describing them as legitimate military targets that support Russia’s “war machine.” In retaliation, Russia has struck parts of Ukraine’s power grid, claiming the infrastructure supports Ukrainian military operations.
In August, Hungary imposed sanctions on Ukraine’s top drone commander, Robert Brovdi, following repeated strikes that disrupted crude flow through the Soviet-era Druzhba pipeline.
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