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Ukraine's attacks on oil refineries are more painful for Russia than sanctions - CNN

2 April, 2024 Tuesday
15:40

Ukrainian drone attacks on Russian refineries affect the Russian economy more than Western sanctions

CNN reports this, citing a source close to the Ukrainian drone program.

The attacks by Ukrainian drones on Russian refineries were made possible by the use of drones with a longer range and more advanced capabilities, some of which have begun to integrate a basic form of artificial intelligence.

According to the source, Ukraine and its allies determine the flight plan of drones in advance, and the use of AI allows them to hit targets with an accuracy of several meters.

According to CNN, citing several experts interviewed, Ukrainian drones most often strike not fuel storage facilities but distillation plants where crude oil is processed and turned into fuel.

Experts believe that these attacks could affect the Russian economy more than the sanctions, CNN reports.

"If you think about the sanctions that have been put in place so far, they’ve largely bypassed energy," explains Helima Croft of RBC Capital Markets. "It really has been energy exports, crude, natural gas, refined products, that have given Russia the economic lifeline to continue to fight this war.”

The Ukrainian attacks on Russian refineries have already led to an increase in world oil prices: this year, the price of Brent crude oil has risen by almost 13%.

U.S. officials are concerned about the impact on the global economy from these strikes, but "

the impasse in Washington over funding for Ukraine, and the potential for change in the White House next year, could give Kyiv some leeway," the article says.


 
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