(KYIV, UKRAINE) – Ukraine has intensified its campaign of long range drone and missile strikes on Russian energy and industrial infrastructure, while Russia has launched what officials in Kyiv describe as the largest attack yet on Ukraine’s power grid, leaving large areas of the country in extended darkness.
Ukraine has been targeting oil refineries, fuel depots, power stations and air defence systems inside Russia for several months. One of the latest confirmed strikes forced the Volgograd (Volgograd Oblast) oil refinery to halt operations. The site, which has been hit multiple times in recent years, saw key processing units badly damaged. A primary processing unit with a capacity of about 66,000 barrels per day, along with a major hydrocracking system, were reported offline. The Russian operator, Lukoil, did not provide comment.
Damage to the refinery has significant economic consequences for Moscow. Combined with losses at other refineries and export terminals, analysts suggest Russia’s ability to export oil products through the Black Sea has been severely disrupted.
Ukraine has also released footage showing drone strikes on fuel trains and smaller fuel depots in occupied Crimea. These operations form part of a strategic effort to reduce Russia’s capacity to produce, store and transport fuel used in military operations.
Recent financial data reflects the impact. Russia collected 888 billion roubles in oil and gas tax revenues in October, a decrease of roughly 27% compared to the same month last year. At current approximate exchange rates, 888 billion roubles is about USD $8.8 billion. The sustained downward trend is attributed to both Ukrainian strikes and a decline in global oil prices.
| Month (Year on Year) | Russian Oil and Gas Tax Revenue | Approx. USD Value | Change |
|---|---|---|---|
| October (Previous Year) | Higher baseline | N/A | – |
| October (Current Year) | 888 billion roubles | ≈ $8.8 billion | -27% |
At the same time, Saudi Arabia and other Gulf producers have increased their output, pushing global prices lower and reducing Russia’s earnings further. This has increased competition for remaining markets, particularly in Asia.
Financial pressure has also emerged through blocked attempts by Russian firms to reorganise their foreign operations. Swiss trading firm Gunvor withdrew a proposed USD $22 billion deal to acquire Lukoil assets after US officials warned the arrangement could support the Kremlin. Meanwhile, Bulgaria and Moldova have warned they may nationalise Lukoil assets if no acceptable buyers emerge.
Ukraine has also struck Russian thermal power plants in Belgorod, Bryansk, Kursk and Voronezh regions. Photographs verified online show visible structural damage to generating facilities. In addition, a 110 kilovolt substation in Taganrog was hit, affecting local grid stability.
Meanwhile, Russia has continued large scale strikes on Ukraine’s electricity network. Ukrainian officials reported three major thermal power plants offline and more than 12 hour rotating blackouts introduced across major cities. In Kyiv, emergency and scheduled outages are now routine. Residents rely on generators, stored water and timed charging of electronic devices.
Ukrainian journalists describe cities like Kharkiv operating in near darkness, with public transport and heating disrupted. However, residents have adapted as they did during previous winters of the war.
Russian attacks also targeted substations supporting nuclear power facilities, prompting Kyiv to call for an emergency meeting of the International Atomic Energy Agency (IAEA). Ukraine warned that further strikes could risk a radiological incident affecting large parts of Europe.
In parallel, civic and humanitarian efforts supporting Ukraine continue internationally. New Zealand humanitarian groups have delivered aid valued at roughly USD $60 million. Sweden is funding drone procurement for Ukrainian operations, and French fishing communities have supplied protective netting to help defend Ukrainian urban areas from drone attacks.
Inside Ukraine, new schools are being built underground in cities such as Kharkiv to protect children from missile attacks. Some facilities accommodate classes around the clock due to limited space and high demand.
Ukraine maintains that its strikes on Russian infrastructure will continue until Russia stops targeting civilian energy facilities. Kyiv has also warned that it could halt pipeline oil flows to Hungary and Slovakia via Ukrainian territory if necessary.
The Ukrainian government continues to call for increased air defence support from allied nations and further international restrictions on Russian oil revenue, which remains a primary funding source for Moscow’s war.
Jakony.com® will continue monitoring developments.
