Ukraine Strikes Knock Out 15 Russian Oil Refineries, Causing $23.2 Billion in Damage

Ukrainian airstrikes have successfully knocked out 15 of Russia's 38 major oil refineries, according to Ukraine's Military Intelligence agency (HUR). The agency reported on Thursday that the strikes have caused more than $23.2 billion in economic damage, severely impacting Moscow's oil sector income.

The HUR assessment indicates that only 12 refineries are currently operating at reduced capacity following the precision strikes. The attacks have effectively cut Russia's oil processing volumes by 55.4% compared to the start of the year, the agency added. Among the facilities hit as of September are five major plants, including the Ryazan Oil Refining Company, which together account for 33% of Russia's total refining volumes.

The refinery attacks have created logistical headaches for Moscow, which relies heavily on oil revenues to fund its ongoing invasion of Ukraine. The strikes have also led to fuel shortages in various Russian regions, including the annexed Crimea, with citizens feeling the economic pinch of the war.

Ukrainian President Volodymyr Zelensky has stated that Ukraine would be open to halting the strikes on Russian oil refineries if the Kremlin stops attacking Ukraine's energy infrastructure. However, Moscow has refused to comply. In an address to the Ibero-American Summit on Thursday, Zelensky said that Russian suicide drones and missiles continue to target critical infrastructure, including equipment supporting nuclear power plants. "Every power plant in Ukraine has been damaged in one way or another by Russian attacks," he said.

The conflict continues to escalate with reciprocal attacks. Russian forces reportedly bombed a postal logistics hub belonging to Nova Poshta, Ukraine's largest private delivery company, and struck a power substation in the Dnipropetrovsk region and a cargo ship in the Black Sea, according to the Kremlin.