Ukraine strikes at Russia’s economic heart, oil refineries in flames

• Ukraine has intensified drone strikes on Russian energy facilities, hitting multiple refineries and a key oil pipeline, forcing shutdowns and disrupting crude shipments. The attacks aim to weaken Moscow’s war capabilities and put economic pressure on Russia.
• The targeted refineries include Syzran, Ryazan, Volgograd and Astrakhan, with operations halted or slowed due to damage, impacting Russia’s domestic energy supply.
• The Caspian Pipeline Consortium, crucial for Kazakhstan’s oil exports, has been severely damaged, cutting crude shipments by 30%-40%, with repairs expected to take months.

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Ukraine has intensified its drone strikes on Russian energy facilities, hitting multiple refineries and a key oil pipeline on Wednesday, Feb. 19. The latest wave of attacks has forced shutdowns at several oil-processing plants and disrupted crude shipments, putting additional economic pressure on Moscow.

Which Russian refineries were targeted?

Ukraine has struck at least four Russian oil refineries in recent weeks, forcing them to halt operations. One of the hardest-hit facilities is the Syzran oil refinery, run by Russia’s state-owned oil giant Rosneft. A drone strike triggered a fire, suspending operations at the facility, which processes nearly 9 million tons of oil annually.

Other strikes have hit refineries in Ryazan, Volgograd and Astrakhan, disrupting fuel production and Russia’s domestic energy supply. The extent of damage varies, but operations have either slowed or stopped at several sites as Russian officials work to repair the damage.

How has the Caspian Pipeline Consortium been affected?

Beyond oil refineries, Ukraine has also targeted the Caspian Pipeline Consortium (CPC), a crucial pipeline that transports crude oil from Kazakhstan to global markets.

A Ukrainian drone attack on the Kropotkinskaya pumping station, located in southern Russia, caused severe damage to energy equipment, gas turbines and substations.

Russia’s Deputy Prime Minister Alexander Novak confirmed the attack and said repairs could take months. The damage has cut crude shipments through the pipeline by 30% to 40%, impacting Kazakhstan’s oil exports.

Kazakhstan relies on the pipeline for most of its crude shipments, and officials there expect exports to decline by 30% as they prioritize domestic energy needs.

How is Russia responding?

Moscow has condemned the strikes and launched retaliatory airstrikes overnight. The Russian military deployed nearly 180 drones targeting multiple regions across Ukraine. The extent of the damage from these counterattacks remains unclear, but officials in Kyiv say they are assessing the impact.

Russia’s oil production, a critical funding source for its war effort, has already been in decline following earlier Ukrainian drone strikes. Previous attacks drove daily crude output to a 20-year low, and analysts say continued strikes could further strain Moscow’s economy.

How are global oil markets reacting?

The escalation in attacks on Russian energy facilities has caused fluctuations in global oil markets. Following the latest strikes, crude prices rose above $75 per barrel, as traders reacted to concerns over supply chain disruptions. Energy analysts warn that further Ukrainian attacks or prolonged refinery shutdowns could drive prices even higher.

What happens next?

Ukrainian officials say they will continue targeting Russian energy facilities as part of their broader strategy to weaken Moscow’s war capabilities. With no sign of de-escalation, both sides appear committed to further strikes, raising concerns about prolonged energy instability in the region.