Ukraine strikes put pressure on Russian oil

LONDON: Ukraine is intensifying strikes on Russian refineries and oil infrastructure, with more than 30 attacks since early August, aimed at weakening Moscow’s ability to finance war against its neighbor. Current consequence? Russia is the world’s third-largest producer and second-biggest exporter of crude oil. Oil and gas revenues represented about 30 percent of its budget in 2024, or largest source of state funds according to the Oxford Institute for Energy Studies.

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