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These disruptions mark a stark reversal for Russia, a nation predominantly known for its oil exports. Ironically, despite its status as a major oil producer, Russia now faces serious domestic fuel shortages, highlighting how the ongoing conflict and targeted attacks are undermining its economic foundation.
Broader Economic Consequences for Russia
The consequences of these refinery damages extend far beyond fuel shortages; they threaten the stability of Russia's broader economy. The country is already experiencing high inflation levels, with the central bank under direct Kremlin control—limiting autonomous monetary policy decisions. Liquidity in the banking sector is notably low, restricting ordinary citizens' access to their accounts and savings.