Russian oil exports slump as Ukraine hammers ports and refineries

{ "title": "Ukraine Strikes Deal Blow to Russian Oil Exports", "content": "Russian oil exports are plummeting to their lowest levels since 2023 as Ukrainian attacks on ports and refineries cripple the country's energy infrastructure, industry sources say. Despite a US sanctions waiver intended to maintain global supply, the sustained strikes have cut into Moscow's ability to ship crude and process fuel.\n\nUkraine has intensified drone and missile strikes on Russian oil terminals and refineries in recent weeks, aiming to disrupt the Kremlin's war funding. The attacks have forced several key ports to reduce operations and have damaged refining capacity, leading to a sharp decline in export volumes.\n\n"Russian seaborne crude exports are set to fall to levels not seen in nearly two years," a source familiar with shipping data told reporters. The decline comes even as the US granted a waiver to allow certain financial transactions related to Russian oil, underscoring the effectiveness of Ukraine's military campaign.\n\nThe slump in exports could tighten global oil markets and push prices higher, though analysts caution the full impact depends on how quickly Russia can repair damaged facilities. Meanwhile, Ukraine has vowed to continue targeting energy infrastructure critical to Russia's economy."