Russian seaborne oil product exports fell by almost 10% during 2024, Reuters reports. Ukrainian long-range drone attacks caused damage at a number of major Russian refineries, while higher funding costs and a gasoline export ban imposed by the Kremlin to prevent domestic price hikes added to existing pressure from Western sanctions.
Ukraine’s air offensive against Russia’s energy industry infrastructure began early in 2024 and continued throughout the year, despite opposition from the US due to concerns over the possible negative impact on global energy markets. Ukrainian long-range drones struck a range of Russian oil and gas targets including refineries, ports, and storage facilities, leading to reports of disruption and reduced operations.
Strikes on Russian energy industry targets have intensified in the first weeks of 2025 as the Ukrainian military looks to escalate its air campaign. Ukraine is currently working to expand domestic production of missiles and long-range drones as part of efforts to increase the bombing of military and industrial targets inside Russia, including energy infrastructure. Ukrainian officials see attacks on the Russian energy industry as vital as they seek to undermine the Kremlin’s war economy and force Vladimir Putin to reevaluate the viability of his invasion.