Ukraine's Attacks on Russian Oil Facilities Impact Export Capacity

Ukraine has intensified its attacks on Russian oil facilities over the past week, aiming to hinder Moscow's ability to capitalize on potential international oil price increases following U.S. and Israeli actions against Iran. According to Ming Pao, at least two oil export ports facing the Baltic Sea and one refinery in Russia have been damaged and burning for several days due to Ukrainian military strikes. These attacks have temporarily reduced Russia's oil export capacity by at least 40%.