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The Brent crude oil futures traded in euros are also at a four-year low, reflecting reduced demand and the economic toll of the export halt. As the situation evolves, questions abound about how long Russia can sustain these disruptions and whether they can recover from the loss of their black sea export infrastructure.
Ukrainian Strikes Hit Russian Energy and Military Targets
Ukrainian drone and missile strikes continue to target critical Russian infrastructure and military assets. Last night, Ukrainian forces successfully attacked the Vulgar oil refinery, which produces approximately 14.5 million tons of petrol annually. The refinery was set ablaze, forcing it to cease operations and costing Russia millions daily in lost revenue.