Russian President Vladimir Putin has acknowledged that Ukrainian strikes on oil refineries, depots, and tankers are aimed at sowing panic and disrupting the economy. He described the widening economic disruption as "temporary" in a televised meeting with ministers, seeking to reassure the public that Russia's energy system possesses high resilience. However, reports indicate that these attacks have led to paralyzing fuel shortages, soaring prices, and public unrest across Russia.
Ukraine has intensified its drone attacks on Russian energy infrastructure in the past week. In one overnight operation, two more major oil hubs in Tver and Mikhailovsk, Stavropol region, were hit. The number of oil tankers targeted by Ukrainian drones has reportedly reached two dozen this week, impacting supplies to Crimea. Five additional tankers were reported ablaze in the Azov Sea, and two were struck in Taganrog Bay. Footage captured a marine drone dodging Russian fire to strike the oil tanker "Blue" in the Black Sea off the Crimean port of Yalta. The electricity interconnector linking Crimea to Russia via undersea cables has also been damaged, along with approximately 50 energy facilities on the peninsula, according to Ukrainian sources.
These incidents follow previous Ukrainian drone assaults that hit two major Kremlin energy complexes in Nizhnekamsk and Saratov, a military airfield in Borisoglebsk, and 19 tankers. Russia's largest refinery in Omsk, Siberia, also halted production following a long-range attack.
Putin stated that Ukraine's objective is "absolutely obvious" – to damage the economy and "create an atmosphere of anxiety in society." He asserted that this goal is "unattainable," claiming high resilience for Russia's energy system, despite evidence of long queues at petrol stations and concerns about the agricultural sector. He did not explain the reasons for the rationing of petrol in a major oil-producing nation.
The disruption to fuel supplies has led to fights breaking out at petrol stations, with shortages of petrol and diesel causing significant queues and spiraling prices. Videos circulating on social media appear to show brawls over fuel, including altercations over queue-jumping. One incident allegedly resulted in a woman sustaining a bloody nose.
This economic pressure coincides with a European state intelligence report that warned of an "explosive" banking crisis in Russia. The report indicated that half a million Russians declared bankruptcy last year. While Russian banks have largely weathered sanctions since the 2022 invasion of Ukraine, deteriorating loans and increasing household debt pose a significant risk, especially as the EU considers further sanctions. The Russian central bank has downplayed these risks, but the intelligence report suggests that state-backed lending programs and support measures mask underlying vulnerabilities. The report forecasts a decline in Russia's GDP growth for 2026 and 2027, with increased lending to defense firms and other sectors raising concerns about potential loan defaults.