Russian oil industry set back 20 years by Ukrainian strikes (Ukraine Battlefield update: Day 1,602)

The Russian oil industry has suffered a severe blow as Ukrainian strikes have pushed refinery output to its lowest levels in two decades, leading to skyrocketing fuel and food prices and widespread shortages for tens of millions of Russians. The Kremlin's budget is now strained, revealing vulnerabilities that could impact its war efforts and domestic stability. This setback underscores the strategic importance of maintaining industrial capacity in the face of prolonged conflict and highlights the far-reaching economic consequences for both Russia and its neighbors.