Moscow oil refinery halts output after weekend attack, Reuters reports
The halt adds to a run of strikes on Russian refineries as diesel and crude markets stay volatile
Published
A refinery near Moscow has stopped production after an attack on Sunday, Reuters reports. The halt is the latest in a series of strikes on Russian refining capacity since the war in Ukraine began.
President Trump said Russia has lost control of its own diesel industry as the war disrupts output. President Zelenskyy, ahead of a meeting with Trump in New York, said Russia must stop targeting Ukraine's energy sector. Trump has also pointed to the toll of the war itself, citing monthly casualties of around 25,000 people, most of them soldiers, in renewing his call for the fighting to end.
The pressure on Moscow is not limited to the battlefield. A White House official has said the sanctions bill working through Washington would give Trump discretion to impose tariffs of up to 100% on buyers of Russian oil and gas, including India and China.
The latest refinery outage adds to existing constraints on Russian oil supply from repeated attacks, tightening a global market that has already pushed crude prices up more than 70% this year. With Russia's air defenses stretched thin and its refineries repeatedly targeted, further output losses would add upside risk to oil prices and inflation expectations, strengthening the bearish case for energy-dependent stocks.