Page 153 - RusRPTJun24

9.0 Industry & Sectors 9.1 Sector news
9.1.1a Oil & gas sector results
Ukraine's strikes on Russian refineries have proved more effective than Western sanctions. Ukrainian strikes on Russian oil refineries are now doing what the Western sanctions regime has failed to achieve. Foreign affairs analysts state that one of the world's largest oil producers is now importing gasoline. Since October, Ukraine has struck at least 20 Russian refineries. Analysts claim that attacks on refineries will not affect global energy markets because the strikes reduce Russia's ability to process oil, which will force Russia to export more of its crude oil, which will lead to lower, not higher, global prices. Ukraine's attacks could create further problems in Russia's domestic market, where gasoline and diesel prices have started to rise. These strikes have achieved the goals that Ukraine’s Western partners have set for themselves: to weaken Russia’s financial and logistical capabilities to wage war while limiting damage to the global economy. “Kyiv must win where possible, and the campaign to destroy Russian oil refining facilities brings benefits to Ukraine with limited risk,” the analysts conclude.
153 RUSSIA Country Report June 2024 www.intellinews.com