Newsroom
Short, verified market news summaries; every item names its source and publication date.
Lavrov: Moscow Does Not Want Tolls Imposed on Hormuz Transit
Russian Foreign Minister Sergei Lavrov said, according to a RIA Novosti report published Friday, 6 Shahrivar 1405 (August 28, 2026) and carried by Mehr News Agency, that Moscow does not want tolls imposed on transit through the Strait of Hormuz, though he said the matter still needs further discussion. He added that before the US and Israeli aggression against Iran began, the Strait of Hormuz was fully open and there was no talk of transit tolls. Lavrov went on to criticize the US approach of aggression against the territory of independent states, saying Moscow condemned the US and Israeli strikes on Iran from the outset and has called on powers from outside the region to refrain from intervening in the Persian Gulf region.
Donya-e-Eqtesad, citing Mehr News Agency and RiaNews
Russia's Yaroslavl Oil Refinery Hit in Ukraine's Largest Drone Strike Since the Conflict Began
According to Fars News, carried by Donya-e-Eqtesad on Friday, 6 Shahrivar 1405 (August 28, 2026), Ukrainian forces carried out a large scale drone attack on the Slavneft-YANOS oil refinery in Russia's Yaroslavl region. The strike caused multiple explosions and a large fire at one of Russia's biggest refining complexes. Mikhail Evraev, governor of Yaroslavl region, described it as the largest drone strike in the area since the Russia-Ukraine conflict began. Further details on the damage or the refinery's operating status have not yet been disclosed. The strike is the latest in a series of Ukrainian drone attacks on Russian refining infrastructure in recent weeks, which have repeatedly disrupted the country's fuel refining capacity.
Donya-e-Eqtesad, citing Fars News Agency
TotalEnergies Completes Exit From Russia's Sanctioned Arctic LNG 2 Project
French major TotalEnergies confirmed on Thursday, 5 Shahrivar 1405 (August 27, 2026), that it has fully completed the transfer of its 10 percent stake in Russia's Arctic LNG 2 project to NordLine, a subsidiary of project operator Novatek. According to Oilprice.com, TotalEnergies is therefore no longer a shareholder in the sanctioned project. TotalEnergies CEO Patrick Pouyanne had said last month, on the company's second quarter earnings call, that an exit from the project was imminent. Under the transfer agreement, TotalEnergies retains the right to be reimbursed for its share of shareholder loans extended to the project, estimated at about 1.3 billion dollars, though any repayment will remain subject to applicable sanctions. TotalEnergies fully wrote off its 4.1 billion dollar stake in the project in 2022. Pouyanne said the transfer, authorized by Russian authorities in June, serves the joint interest of both TotalEnergies and Novatek.
Oilprice.com
Ukrainian Drones Hit Russia's Afipsky Refinery as the Country's Fuel Crisis Deepens
Ukrainian drones struck the 180,000 barrel per day Afipsky refinery in Russia's southern Krasnodar region on Monday night, 2 Shahrivar 1405 (August 24, 2026). According to Oilprice.com, Krasnodar governor Veniamin Kondratiev said in a Telegram post on Tuesday, 3 Shahrivar, that a fire broke out after the strike, at least 10 homes were damaged in the village of Afipskaya, and falling drone debris killed two people at the local railway station. The refinery, owned by privately held ForteInvest, had been struck before, most recently last month. Ukraine has intensified drone strikes on Russian refineries since spring to weaken fuel supply to the front and the domestic market, and Russia's diesel exports fell this month to their lowest level in years. Russian Deputy Prime Minister Alexander Novak, who oversees energy, said on Monday that some damaged refineries have resumed operations after repairs.
Oilprice.com
Russian Deputy PM: Some Refineries Hit by Ukrainian Drone Strikes Have Resumed Operations
Alexander Novak, Russia's Deputy Prime Minister in charge of energy issues and OPEC+ talks, said on Monday, Shahrivar 2, 1405 (August 24, 2026), that some Russian oil refineries damaged by Ukrainian drone strikes have resumed operations after repairs. According to Oilprice.com, citing Novak's remarks carried by Russia's Interfax news agency, the official said the situation is changing daily and fuel supply to the domestic market is expected to increase. The report said Russia has faced gasoline and diesel shortages since this spring, as repeated Ukrainian drone strikes, including on refineries more than 1,000 miles from the border, have knocked out many processing sites. The report added that Russia has turned to South Korea and India for fuel imports to offset the shortfall, and the country's diesel and gasoil exports this month have fallen to their lowest level in years.
Oilprice.com
Ukrainian Drones Hit Lukoil's Refinery in Russia's Perm Region, Deep Inside the Country
Ukrainian forces struck an oil refinery owned by Lukoil in Russia's Perm region, more than 1,600 kilometers from the Ukraine Russia border, in a drone attack on the night of Thursday, August 20, 2026 (29 Mordad 1405). Ukrainian President Volodymyr Zelenskyy said in a post on X that the strike hit Lukoil's Permnefteorgsintez refinery and also targeted the Marinovka military air base in Russia's Volgograd region. According to Ukrainian media, the strike sparked a large fire at the refinery. Perm region governor Dmitry Makhonin said on his Telegram channel that Russian forces shot down 16 drones over the region, but one industrial facility was damaged, with no casualties reported. The strike came hours after a Ukrainian drone attack on a Rosneft owned refinery in Russia's Bashkortostan region. Russia has been struggling with gasoline and diesel shortages for more than three months amid Ukraine's repeated strikes on its refineries.
OilPrice.com
Ukrainian Drone Strikes Rosneft Owned Refinery in Russia's Bashkortostan, Small Fire Reported
According to Oilprice.com, citing Bashkortostan republic governor Radiy Khabirov, a Ukrainian drone attack overnight between Tuesday and Wednesday, 27 to 28 Mordad 1405 (August 18 to 19, 2026), struck one of the refineries in the city of Ufa and sparked a small fire, with the extent of damage still being assessed. The refineries, three units in total around Ufa, belong to Bashneft, a unit of Russia's largest oil company Rosneft, and local officials said repairs are expected within a few days. Citing Bloomberg, Oilprice.com reported Ukraine has for months targeted Russian refineries in near nightly drone attacks to weaken the country's fuel supply. Russia's diesel and gasoline exports fell to just 80,000 barrels per day in the first seven days of August, the lowest level in several years.
Oilprice.com, citing Bloomberg
Russian Deputy Foreign Minister Calls for Full Freedom of Passage Through the Strait of Hormuz
Georgy Borisenko, Russia's deputy foreign minister, told the RIA Novosti news agency, in remarks carried by Mehr News and reported by Donya-e-Eqtesad on Wednesday, August 19, 2026 (28 Mordad 1405) at 23:04 Tehran time, that Russia's position is that passage through all sea lanes used in international shipping should be free, and that this principle applies to the Strait of Hormuz as well. He added that Russia hopes the situation in the strait returns to normal so that commercial vessels can pass without obstruction. The Strait of Hormuz, the main export route for Persian Gulf oil and gas, has faced disrupted shipping for weeks amid escalating tension between Iran on one side and the United States and Israel on the other, affecting global supply chains for fuel, energy, petrochemical products and chemical fertilizer. Iran has previously said it would guarantee shipping security through the strategic strait, under the necessary protocols, if a durable ceasefire is reached.
Donya-e-Eqtesad, citing Mehr and RIA Novosti
Greek Tanker Attacked in the Black Sea After Loading Russian Oil
According to IRNA citing Bloomberg, as reported by Donya-e-Eqtesad on Tuesday, 27 Mordad 1405 (August 18, 2026), the Suezmax tanker Skyros, with a capacity of about one million barrels, was attacked on Sunday, 25 Mordad (August 16), after loading at the Caspian Pipeline Consortium (CPC) terminal near the Russian port of Novorossiysk. Bloomberg said no casualties or oil pollution have been reported so far and declined to give further details. It was the first attack on a vessel at the CPC terminal after about a three-week pause. The Financial Times, citing Ukrainian officials, had reported that Kyiv previously halted attacks on tankers using the terminal, a pause that followed a phone call between US Vice President JD Vance and Ukrainian President Volodymyr Zelensky. Per Reuters, CPC pipeline loadings fell more than 20% below plan in July to about 1.2 to 1.3 million barrels a day, removing roughly 400,000 barrels a day from world markets; Kazakhstan's oil output fell 14% in July from June.
Donya-e-Eqtesad, citing IRNA and Bloomberg
Ukrainian Drone Strike Sparks Fire at Russia's Ust Luga Oil Port
According to Oilprice.com, in a report published Friday, August 14, 2026 (23 Mordad 1405), Ust Luga, Russia's top port for oil and other commodity exports from the Baltic Sea, caught fire early Friday following an overnight Ukrainian drone attack. Alexander Drozdenko, governor of Russia's Leningrad region, said on Telegram that a fire had broken out after the strikes and that firefighters were working to extinguish it; in a later post he said the consequences of the attack had been fully eliminated and there were no casualties.\n\nThis was the second Ukrainian drone attack on Ust Luga since early July. Ukraine has intensified drone strikes on Russian energy infrastructure this year, including refineries and supply routes; on Thursday, Gazprom's Neftekhim Salavat refinery in the Urals was also hit. The report said Russia's diesel and gasoil exports fell to just 80,000 barrels per day in the first seven days of August, the lowest in several years, pushing Russia to import fuel, including gasoline from India.
Oilprice.com
China's LNG Imports From Russia's Sanctioned Arctic Project Rise via a Hidden Route
According to CNN, reported by Khabaronline on Friday, August 14, 2026 (23 Mordad 1405), satellite imagery shows US sanctioned tankers such as the Christophe de Margerie and Arctic Mulan transferring liquefied natural gas (LNG) cargoes from Russia's sanctioned Arctic LNG 2 project to floating storage units off Kamchatka, then switching off tracking systems to deliver the cargo to Beihai port in southern China. The report said China's LNG imports from Russia rose about 28 percent in the first half of this calendar year, coinciding with disrupted tanker traffic in the Red Sea and the Strait of Hormuz amid the Middle East crisis. Vladimir Putin and Xi Jinping have described the 3,500 mile route, dubbed the Polar Silk Road, as the safest alternative for global trade, while US and NATO officials have warned about growing Chinese commercial and military activity in the Arctic.
Khabar Online, citing CNN
Putin Warns Europe He Will Seize European Ships in Retaliation for Detaining Russia's Shadow Fleet Tankers
Russian President Vladimir Putin said on Wednesday, August 12, 2026 (21 Mordad 1405), while overseeing Russian Pacific Fleet exercises, that Moscow would respond in kind if European countries began confiscating Russian ships or selling cargo from detained vessels. According to Oilprice.com, citing Reuters, Putin called the European measures nothing less than piracy and robbery, and warned that Russian retaliation would not necessarily be confined to the same waters where European interceptions occur. The warning followed the European Union's 21st sanctions package targeting Russia's energy trade, adopted on July 23, 2026 (1 Mordad 1405), which added 41 more vessels to bring the total number of sanctioned shadow fleet ships to 673. Reuters reported that at least nine suspected shadow fleet tankers had been seized across Europe by late June, including four detained by France. The warning also came one day after a sweeping US sanctions bill targeting Russian energy revenues moved to the House of Representatives following an overwhelming Senate vote.
Oilprice.com, citing Reuters
Ukrainian Drone Strike Hits Gazprom Refinery in the Urals; Another Russian Refinery Fully Halted
According to Oilprice.com, in a report published Thursday, 22 Mordad 1405 (August 13, 2026), Ukraine struck Gazprom's Neftekhim Salavat refinery, a 200,000 barrel per day facility in Russia's Bashkortostan region, again, sparking a fire. Regional governor Radiy Khabirov said falling drone debris ignited a fire in the plant's industrial area; the refinery had also been hit in July. The same report said the 120,000 barrel per day Orsknefteorgsintez refinery in the Orenburg region has completely halted operations following separate strikes, according to regional governor Yevgeny Solntsev, who said repairs could take up to six months because sanctions have made replacement equipment difficult to obtain. Citing Bloomberg, the report said Russian refinery runs averaged about 3.6 million barrels a day in July, more than 30 percent below seasonal levels, while Russia's seaborne petroleum product exports fell 33 percent in July from June.
Oilprice.com
Russia's Seaborne Crude Oil Exports Fall to Lowest Level Since May
Russia's seaborne crude oil exports have fallen to their lowest level since May, as refineries ramp up operations and Ukrainian attacks disrupt loading ports. According to ISNA, reported by Donya-e-Eqtesad on Wednesday, August 12, 2026 (21 Mordad 1405), and based on ship tracking data compiled by Bloomberg, Russia exported an average of 3.71 million barrels per day over the four weeks to August 9 (18 Mordad), with the figure falling to 3.25 million barrels per day in the final week of that period, down from 3.5 million barrels per day the week before. Novorossiysk, one of Russia's main Black Sea export ports, has been operating at close to half its peak rate following attacks on tankers near the port. Ukraine struck five Russian refineries in the first week of August and two more the following week. Citing Oilprice.com, the report said Russia's average seaborne crude exports so far this calendar year stand at 3.62 million barrels per day, about 280,000 barrels per day above last year's average.
Donya-e-Eqtesad, citing ISNA
Russia's Pacific Fleet Commander Says Forces Are Ready to Seize Vessels of 'Hostile' Nations
Russian President Vladimir Putin warned on Wednesday, August 12, 2026 (21 Mordad 1405), while overseeing Russian naval exercises in the Far East, that if European countries continue seizing vessels linked to Russia's so called shadow fleet, Moscow will respond in kind, in a location of its own choosing. At the same event, Viktor Liina, commander of Russia's Pacific Fleet, said his forces have both the capability and readiness to inspect and seize vessels belonging to hostile nations and their shadow fleets, and that the fleet has been tracking the shipping routes, cargo and ownership of vessels active across the Asia Pacific region. The remarks came as the European Union intensified sanctions on hundreds of vessels linked to Russia's oil shadow fleet.
Ecoiran, citing Shafaqna
Ukraine Halts Drone Attacks on Russian Oil Tankers at US Vice President's Request
According to a Financial Times report carried by Oilprice.com on Wednesday, August 12, 2026 (21 Mordad 1405), citing unnamed Ukrainian officials, Ukrainian forces have suspended drone attacks on oil tankers at Russia's Novorossiysk port at the request of US Vice President JD Vance. An unnamed US official said the request stemmed from concern that the attacks were adding to instability in the global oil market, after they had already shut down the Caspian Pipeline Consortium (CPC) twice in the past two months. The attacks had pushed Kazakhstan's oil and condensate production down to about 1 million barrels a day at the end of July, roughly half the average of 2 million barrels a day in June. The official said Washington views the CPC as "a vital conduit for Kazakhstan origin energy to European markets" and an alternative to Russian supplies, and has also told the Zelensky government to stop targeting non Russian tankers in the Black Sea. Kazakhstan's Energy Ministry said on Monday it is examining alternative routes, including the Baku Tbilisi Ceyhan pipeline, Caspian Sea shipping and the Baku Supsa route; the country sends about 80% of its oil exports via the CPC.
Oilprice.com, citing the Financial Times
Shadow Fleet Standoff Escalates as Putin Threatens to Seize European Ships
Russian President Vladimir Putin threatened on Wednesday, August 12, 2026 (21 Mordad 1405), while overseeing Russian naval drills near Sakhalin Island, to seize ships belonging to European countries in retaliation for European Union plans to sell cargo seized from Russia's so called "shadow fleet" vessels. According to Euronews, he called the EU action "piracy and banditry" and said Moscow would respond "wherever it deems necessary." Several European companies have intercepted ships carrying Russian oil in violation of EU sanctions, and a new sanctions package passed last month allows EU members to sell cargo seized from such vessels. According to Oilprice.com, Swedish court documents also show Stockholm plans to transfer a seized Russian ship suspected of carrying grain from occupied Ukrainian territory to Kyiv. Russia's shadow fleet is the main route used to circumvent Western oil sanctions, and any escalation over it could affect the flow and insurance of Russian crude shipments to global markets.
Euronews
Russia's Seaborne Crude Oil Exports Fall to Lowest Since May
According to Bourse News, in a report published Tuesday, August 11, 2026 (20 Mordad 1405), ship-tracking data compiled by Bloomberg showed Russia's seaborne crude oil exports averaged 3.71 million barrels a day in the four weeks to August 9 (18 Mordad), the lowest level since May. Average cargoes over the most recent week were just 3.25 million barrels a day, down from 3.5 million barrels a day the week before. The decline came just days after industry sources said Russia's crude and condensate output rose by roughly 100,000 barrels a day in July to more than 9 million barrels a day. The Black Sea port of Novorossiysk has been operating at roughly half its peak loading rate since tankers near the port came under attack, and loading at the Baltic port of Ust-Luga is running at about half the level of two weeks ago. Ukraine struck five Russian refineries in the first week of August and two more this week. According to Oilprice.com, Russia's seaborne crude exports have averaged 3.62 million barrels a day so far this year, about 280,000 barrels a day above last year's average.
Bourse News, citing Bloomberg and Oilprice.com
Russia Imports Its First Gasoline Cargo From India as Refinery Crisis Deepens
According to Bloomberg, in a report carried by Oilprice.com on Wednesday, August 12, 2026 (21 Mordad 1405), Russia has begun importing fuel from India, based on data from ship tracking firm Kpler. A 42,000 tonne cargo of gasoline from the Vadinar refinery of India's Nayara Energy, which is partly owned by Russia's Rosneft, arrived in Russia earlier this month. The cargo was loaded in mid June, shipped on a Russian flagged tanker, transferred to an Omani flagged fuel carrier in Egypt, and arrived in Russia on August 5 (14 Mordad). Kpler lead analyst Sumit Ritolia told Bloomberg the emergence of Indian barrels is "particularly notable" and shows the severity of Russia's domestic gasoline imbalance and how falling refinery runs are reshaping the country's traditional product trade flows. According to estimates by EA Analytics cited by Bloomberg, Russia's refinery runs stood at 3.6 million barrels a day in July, more than 30 percent below the seasonal average; Russia has separately extended its diesel export ban through the end of this year to secure more fuel for the domestic market.
Oilprice.com, citing Bloomberg
Ukrainian Drone Hits Orsk Refinery Deep Inside Russia, 1,500 Kilometers From the Front Line
Ukraine's military said on Tuesday, August 11, 2026 (20 Mordad 1405), that it struck the Orsknefteorgsintez refinery in the city of Orsk, in Russia's Orenburg region, with a drone in the early hours of that day; according to Oilprice.com, the refinery is located about 1,500 kilometers (930 miles) from the front line. Ukraine's General Staff said on its Telegram channel that a fire was recorded at the site and that damage was being assessed. The refinery, which has an annual processing capacity of about 6 million tons of crude oil, produces gasoline, diesel, aviation fuel, fuel oil and bitumen. Oilprice.com said the strike is the latest in a series of Ukrainian drone attacks on Russian refineries in recent weeks aimed at limiting fuel supply inside Russia and to the front lines; in a similar attack earlier this week, 12 people were killed in a drone strike on the city of Nizhnekamsk in Tatarstan, which also hit the advanced Taneco refinery. Russia, which has faced gasoline and diesel shortages for more than three months, is again facing Ukraine's drone campaign against refining infrastructure after a several week lull during which Ukraine had focused attacks mainly on tankers in the Sea of Azov and the Black Sea.
Oilprice.com
Russia's Seaborne Crude Exports Fall to Lowest Level Since May
According to Oilprice.com, in a report published Tuesday, August 11, 2026 (20 Mordad 1405), Russia's seaborne crude exports averaged 3.71 million barrels a day in the four weeks through August 9 (18 Mordad), the lowest level since May; Bloomberg vessel tracking data showed shipments averaged just 3.25 million barrels a day in the latest week, down from 3.5 million a week earlier. The drop came after industry sources said last week that Russian crude and condensate production rose by roughly 100,000 barrels a day in July to above 9 million barrels a day; Oilprice.com said the apparent contradiction is explained by a temporary lull in Ukrainian drone attacks on refineries in the second half of July, which let more crude flow into domestic processing rather than exports. Novorossiysk, one of Russia's main Black Sea export outlets, has been operating at roughly half its peak crude loading rate following attacks on tankers, and Turkey has also temporarily restricted some Black Sea traffic. According to the same report, Ukraine struck five Russian refineries in the first week of August and two more this week.
Oilprice.com
Ukrainian Drone Strike on Russia's Nizhnekamsk Refining Hub Kills 12 in Tatarstan
Radmir Belyayev, the mayor of Nizhnekamsk in Russia's Tatarstan republic, said on Monday, August 10, 2026, that a Ukrainian drone strike on the city killed at least 12 people and wounded 39 others. Nizhnekamsk hosts an oil refining hub with two refineries and a petrochemical plant. According to Oilprice.com, multiple unverified reports and social media videos indicated the strike also hit Tatneft's Taneco refinery, one of Russia's most technologically advanced. The attack is among the deadliest on Russian energy infrastructure since the start of the four and a half year war with Ukraine. Ukraine resumed its drone campaign against Russian refineries in late July, when it struck Lukoil's 300,000 barrel per day Volgograd processing facility. Russia, which has faced months of gasoline and diesel shortages, extended its export ban on both fuels through the end of 2026 at the end of July, even as Deputy Prime Minister Alexander Novak said over the weekend that the fuel crisis had begun easing as some refineries resumed operations.
Oilprice.com
Russia's Syzran Refinery Hit by Ukrainian Drone Attack
Russia's Syzran refinery in the Samara region was struck by several Ukrainian attack drones in the early hours of Friday, August 7, 2026 (16 Mordad 1405). According to Fars News Agency, reflected by Donya e Eqtesad, NASA's FIRMS satellite monitoring system detected a large fire at the refinery site following the attack. The strike continues a sustained campaign of Ukrainian drone attacks on Russian refining infrastructure, which the Financial Times had previously reported has taken half of Russia's refining capacity offline. According to Oilprice.com, citing Reuters, Russian refinery throughput fell in July to its lowest level since 2002, at 3.6 million barrels a day, more than 30 percent below the seasonal average.
Donya-e-Eqtesad, citing Fars News
Russia Turns to South Korea for Fuel as Refinery Crisis Deepens After Ukrainian Drone Strikes
According to Oilprice.com, citing Reuters, in a report published Friday, August 7, 2026 (16 Mordad 1405), Russia imported about 30,000 metric tons of fuel from South Korea last month to offset supply constraints caused by continued Ukrainian drone attacks on its refineries. Ship tracking data from Kpler and Vortexa show at least two short range tankers carried diesel and some jet fuel from South Korea toward Russia's Far East, with one cargo already arrived. An earlier Bloomberg report said Russian refinery throughput fell last month to its lowest level since 2002, at 3.6 million barrels a day, more than 30 percent below the seasonal average. Russia has simultaneously raised its crude oil exports, reaching more than 9 million barrels a day in July. Moscow has extended a diesel export ban imposed because of the attacks through the end of the year and has also restricted gasoline exports to supply the domestic market. Ukrainian drone strikes have also disrupted the flow of Kazakh oil through the Caspian Pipeline Consortium, forcing Kazakhstan to cut oil production by about 50 percent last month.
Oilprice.com, citing Reuters, Kpler and Vortexa
Ukrainian drones strike two Russian refineries as Yaroslavl governor reports 93 drones downed
According to Khabaronline, citing Fars News Agency, Ukrainian President Volodymyr Zelensky said on Thursday, 15 Mordad 1405 (6 August 2026), that Ukrainian forces struck oil refineries in Russia's Bashkortostan republic and Yaroslavl region in long range drone attacks. Images released from the strike showed columns of black smoke over the city of Yaroslavl. The governor of Yaroslavl called it the largest enemy drone attack yet and said 93 drones were shot down, though falling drone debris damaged some oil storage tanks. Russia's military said a total of 605 Ukrainian drones were intercepted and destroyed across several regions, including Yaroslavl. Zelensky also said two Russian military patrol boats and several vessels belonging to Russia's so called shadow fleet were struck in the Black Sea. Ukraine has repeatedly targeted Russian oil infrastructure, including refineries and fuel depots, in recent weeks, a campaign that had already pushed Russian crude refining to its lowest level in more than two decades. The strikes are among the factors that have contributed to the recent rise in global oil prices.
Khabar Online, citing Fars News Agency
Russian oil production climbs above 9 million barrels a day in July
According to OilPrice.com on August 6, 2026 (15 Mordad 1405), citing two industry sources who spoke to Reuters, Russia's crude and condensate output rose by roughly 100,000 barrels per day from June to July, climbing above 9 million barrels a day. Stronger exports and a partial recovery in refinery throughput after damage earlier this year drove the increase. OPEC had earlier estimated Russian production at 8.928 million barrels a day in June, down 61,000 bpd from May and below the 2025 full year average of 9.129 million bpd. Russia has not published official oil production figures for years. OilPrice.com reported that Ukrainian drone attacks intensified in late July and early August, forcing several refineries to suspend operations, including a fire on Thursday at a refinery in Russia's Yaroslavl region following another drone strike. Russia plans to increase crude exports from its western ports by 4 percent in August, but that depends on available tanker and loading capacity in the Black Sea, which is currently reported to be tight.
OilPrice.com
Russia's oil refining falls to its lowest level in more than two decades in July
Russian refineries processed an average of about 3.6 million barrels per day of crude in July 2026, the lowest monthly figure since May 2002 and roughly a third below the 2020 to 2025 seasonal average of 5.3 to 5.6 million barrels per day. According to Bourse News, the decline followed an expansion of Ukrainian drone strikes from refineries to tankers, pipelines and export infrastructure. Ukraine struck 18 Russian refineries in July, including the 440,000 barrel per day Omsk refinery, Russia's largest, and Bloomberg counted 30 attacks on Russian oil infrastructure that month, the second highest monthly tally since the war began. According to Sergey Vakulenko of the Carnegie Russia Eurasia Center, strikes on refineries resumed in the final week of July. Russia extended its ban on diesel and gasoline exports last week to prevent domestic shortages, while lower refining has forced producers to export more crude oil, adding pressure on ports and a tanker fleet already strained by Ukrainian attacks.
Bourse News, citing Bloomberg and Oilprice.com
Turkish cargo ship catches fire after a drone attack near the port of Novorossiysk
A Turkish cargo ship caught fire after a drone attack near Russia's Black Sea port of Novorossiysk. The incident was reported on Wednesday, 14 Mordad 1405 (5 August 2026). According to Türkiye's maritime authority, three crew members were seriously injured and all 22 people on board were evacuated from the vessel to Russia. Novorossiysk is one of Russia's largest Black Sea ports for oil and grain exports. Recent attacks on vessels and port infrastructure in the area have affected insurance costs and shipping routes along one of the world's main energy corridors.
Al Jazeera
Russian oil refining fell in July to its lowest level since May 2002
Bloomberg reported on Monday, 12 Mordad 1405 (3 August 2026), that Russian crude oil refining fell in July to its lowest level in more than two decades. Citing data from EA Analytics, Russian refineries processed an estimated 3.6 million barrels of crude per day last month, the lowest since May 2002 and roughly one third below the seasonal norm. Between 2020 and 2025, refineries processed an average of 5.3 million to 5.6 million barrels per day in the same period. Based on a Bloomberg tally drawn from statements by Russian and Ukrainian officials, 18 Russian refineries were targeted in July, including the Omsk refinery, the country's largest, which lies more than 2,500 kilometres from the Ukrainian border. The previous monthly record was 17 refinery attacks in May. Five large tankers, five pieces of port infrastructure and two pipelines were also hit, bringing total attacks on oil infrastructure in July to 30, the second highest count after 32 in May. Oil loading at the Caspian Pipeline Consortium terminal was suspended after strikes on two vessels overnight on 30 July. Lower Russian refining capacity feeds through to the global balance for refined products, a variable that bears on world petrol and diesel prices and on the export earnings of producers in the region.
The Moscow Times, citing Bloomberg
Russian oil refining falls to 3.6 million barrels per day in July, a 24 year low
Crude processing at Russian refineries fell in July 2026 to its lowest level in more than two decades. According to The Moscow Times, citing Bloomberg analysis, Russian refineries processed an estimated 3.6 million barrels per day that month, the lowest monthly level since May 2002 and roughly one third below the seasonal average. Between 2020 and 2025, those refineries typically processed between 5.3 million and 5.6 million barrels per day in the same period. The driver is the expansion of Ukraine's drone campaign from refineries to tankers, pipelines and export infrastructure. Ukraine struck 18 Russian refineries in July, surpassing the previous monthly record of 17 attacks set in May. One target was the 440,000 barrel per day Omsk refinery, Russia's largest, more than 2,500 kilometres from the Ukrainian border. Ukrainian drones also hit five large oil tankers, five pieces of port infrastructure and two pipelines during the month. Bloomberg counted 30 attacks on Russia's oil infrastructure in July, the second highest monthly total since the start of the full scale invasion. Russia last week extended its ban on most diesel and gasoline exports to prevent domestic shortages. Reduced processing has also forced producers to export larger volumes of crude, adding pressure on ports and tanker fleets. Bloomberg reported that only four tankers loaded crude at Novorossiysk during the week ending 26 July, down from seven and eight in the previous two weeks. Jorge Leon of Rystad Energy said Russia can reroute some crude through Baltic ports, though pipeline, storage and tanker capacity is insufficient to replace all Black Sea export volumes.
Oilprice.com, citing The Moscow Times and Bloomberg
Russia extends its petrol and diesel export ban to 31 January 2027
The Russian government said in a statement on Thursday, 30 July 2026, that it had extended its ban on diesel and petrol exports to 31 January 2027. The ban covers petrol, diesel, marine fuel and gasoil, and its stated aim is to keep the domestic fuel market stable. Moscow had first imposed the diesel ban from 8 to 31 July 2026. Repeated Ukrainian drone attacks on Russian oil refineries have caused fuel shortages and price increases in the country's domestic market. Restrictions on petrol and jet fuel exports had already been in place before this decision. Under the measure, producers will be exempt from the diesel, marine fuel and gasoil restrictions from 1 September 2026. Some fuel exports will continue under intergovernmental agreements and as humanitarian aid, and a temporary arrangement runs to 1 November 2026 to secure fuel supplies for farmers during the harvest season.
Shana
Rosatom cargo ship sinks in the Black Sea after a Ukrainian drone attack, with all 17 crew rescued
Alexei Likhachev, head of Russia's state corporation Rosatom, said on Saturday, 1 August 2026 (10 Mordad 1405), that two Ukrainian drones attacked a civilian vessel belonging to the company in the Black Sea in the early hours of that day and that the ship sank after the damage it sustained. He said the vessel was carrying goods including frozen food and construction materials, and that all 17 crew members survived. Likhachev described the action as "piracy". Ukrainian President Volodymyr Zelensky confirmed the attack in a message on X, saying Ukrainian defence forces had hit a Russian container ship named Yanina, sailing under the Russian flag, which he said had a capacity of more than 100,000 tonnes. He claimed the vessel was under sanctions. In recent weeks Russia and Ukraine have both stepped up attacks on ships each side says are aiding the other's war effort, turning the Black Sea into one of the main arenas of the confrontation.
Eghtesad Online
Russia extends its gasoline and diesel export ban to 31 January 2027
The Russian government said in a statement on Thursday, 30 July 2026 (8 Mordad 1405), that it has extended its ban on gasoline and diesel exports until 31 January 2027 (11 Dey 1405). The diesel ban had originally covered 8 to 31 July 2026 (17 Tir to 9 Mordad 1405), and the new scope also takes in marine fuel and gasoil. Under the decision, producers will be exempt from the diesel, marine fuel and gasoil restrictions from 1 September 2026 (10 Shahrivar 1405), while some fuel exports will continue under intergovernmental agreements and as humanitarian aid. The government also adopted a temporary procedure running to 1 November 2026 (10 Aban 1405) to secure fuel for farmers during the harvest season, plus a separate measure on stable motor fuel supply for provincial and local bodies. Repeated Ukrainian drone attacks on Russian refineries over recent months have caused fuel shortages and price increases in the country's domestic market.
Mehr News Agency
Russia imported 30,000 tonnes of gasoline from Morocco as only 8 of its 26 major refineries stay in operation
A Panama flagged tanker is currently discharging gasoline at the port of Murmansk in the Russian Arctic, a 30,000 tonne cargo loaded about two weeks ago at the Moroccan port of Tangier. The report was published on Friday 31 July 2026 by Mehr News Agency, citing Iran's oil ministry. According to the same report, only 8 of Russia's 26 major gasoline and diesel producing refineries have been operating since the start of the year. The Financial Times reported on Thursday 30 July that roughly half of Russia's refining capacity has been lost. Moscow had earlier banned gasoline exports for six months and is now importing fuel by rail from Belarus and Kazakhstan in addition to seaborne cargoes. A product bottleneck in one of the world's largest oil exporters affects the global balance for refined products, a variable that feeds through to crude pricing and refining margins.
Mehr News Agency, citing Ministry of Petroleum
Russia imported a 30,000 tonne gasoline cargo from Morocco as only 8 of its 26 major refineries stay in operation
According to a Mehr News Agency report from Iran's Oil Ministry published on Friday, 31 July 2026, Russia has imported a 30,000 tonne cargo of gasoline from Morocco. The report says a Panama flagged tanker is currently discharging the cargo at the Arctic port of Murmansk, having loaded it at the Moroccan port of Tangier roughly two weeks earlier. According to the same report, only 8 of Russia's 26 major gasoline and diesel producing refineries have been operating since the start of this year. The Financial Times reported on Thursday, 30 July, that roughly half of the country's refining capacity has been lost. Analysts say Russia's only short term solution is continuous imports; after imposing a six month ban on gasoline exports, Moscow is now also bringing in gasoline by rail from Belarus and Kazakhstan. Fuel imports by one of the world's largest energy exporters are a measure of how deep the squeeze on refined products has become, a squeeze that is pressing on diesel and gasoline prices in international markets.
Mehr News Agency, citing Ministry of Petroleum
Ukraine strikes Lukoil's Volgograd refinery as drone attacks on Russian refining capacity resume
Ukraine's Security Service said in a Telegram post on Friday, 31 July 2026, that Ukrainian forces had struck Lukoil's Volgograd refinery, one of Russia's largest, and that the hit was "successful," without giving details of the extent of the damage. The refinery has the capacity to process 300,000 barrels per day of crude and produces gasoline, diesel and jet fuel. Andrei Bocharov, governor of Russia's Volgograd region, said the same day that a fire had broken out at an industrial facility in the region's fuel and energy complex following a mass drone attack. He did not name the site. This is not the first strike on the Volgograd refinery; earlier this year it had to suspend crude processing after a Ukrainian drone attack triggered a fire at the plant. The renewed attacks come after several weeks of a lull, during which Ukrainian forces focused on hitting tankers in the Sea of Azov and the Black Sea, and some processing units resumed operations after repairs. Even so, Russia extended its ban on gasoline and diesel exports this week, a sign that the fuel shortage, which has run for nearly three months, has not been resolved. The squeeze on Russian refined products is one of the pressures on the global diesel market.
OilPrice.com
Russia extends its gasoline and diesel export ban through the end of January 2027
The Russian government has extended its full ban on fuel exports. Under the decision announced on 30 and 31 July 2026, the new restriction runs from 1 August through 31 January 2027. The previous restriction had been due to expire on 31 July. The ban covers gasoline, diesel, marine fuel and gas oil, and its stated aim is to stabilise Russia's domestic fuel market. From 1 September, however, the restriction will no longer apply to diesel, marine fuel and gas oil exported from Russian territory by direct producers. Exports are also permitted under intergovernmental agreements and for humanitarian assistance based on government decisions. The backdrop is pressure on Russia's refining infrastructure following Ukrainian drone strikes. Extending the fuel export ban of one of the world's largest refined product exporters tightens global diesel supply, which feeds into oil product prices and refining margins worldwide.
Xinhua
Caspian pipeline shuts down again after a drone attack on two tankers at Novorossiysk
The Caspian Pipeline Consortium shut down again in the early hours of Friday, 31 July 2026, according to OilPrice citing Reuters and the company that operates the pipeline. Ukrainian drone attacks struck two tankers loading at the Russian Black Sea port of Novorossiysk, causing a fire on one of them. After the news broke, five tankers bound for Novorossiysk redirected to Turkey and Spain or changed their status to "for orders". This is the third shutdown of the pipeline in a month. The new halt came only two days after the pipeline reopened. The previous shutdown lasted a week, disrupted Kazakhstan's exports and prompted a reduction in the country's crude output. Industry data cited by Reuters earlier this week showed Kazakhstan's oil and gas condensate production fell to 133,200 metric tons on Sunday, about 1 million barrels per day, down from an average of 2.16 million barrels per day in June. The 1,500 kilometre Caspian pipeline carries crude from Kazakhstan's giant Tengiz field across southern Russia to the port of Novorossiysk and handles more than 80 percent of Kazakhstan's crude exports. International producers including Chevron and ExxonMobil rely on the route to move Tengiz output to global markets. The disruption adds to existing problems affecting shipping in the Persian Gulf and the Red Sea.
OilPrice.com, citing Reuters
Russia extends its gasoline and diesel export bans to 31 January 2027
The Russian government said in a statement on Thursday, 30 July 2026, that it has extended its bans on gasoline and diesel exports until 31 January 2027. Under the signed decree the ban takes effect on 1 August 2026 and covers gasoline, diesel, marine fuel and gasoil. The decision came just five days after Russian officials had said the diesel ban would be lifted once the domestic fuel market recovered. Moscow first banned diesel exports from 8 to 31 July, after repeated Ukrainian drone attacks knocked refineries offline and triggered fuel shortages and price spikes across Russia. Under the new decree, from 1 September Russian producers will again be permitted to export diesel, marine fuel and gasoil, but other exporters remain locked out and the gasoline restrictions stay in place. Shipments under intergovernmental agreements or as humanitarian aid continue, and a separate mechanism running to 1 November secures fuel for farmers during the harvest season. Deputy Prime Minister Alexander Novak said last weekend that several refineries had restarted and that conditions at filling stations had improved considerably, while acknowledging that some regions, particularly in Siberia, were still struggling. The extension lands while the global diesel market is already short: Goldman Sachs estimates global diesel exports fell 35 percent in July, roughly 2.6 million barrels per day. Russia has been one of the world's largest diesel exporters, and every barrel kept at home tightens supply further for buyers already facing reduced volumes from West Asia.
Oilprice
A tanker loading at a CPC floating terminal was hit by a drone, as Ukraine claims strikes on five Russian tankers
The Caspian Pipeline Consortium (CPC) said on Thursday, 30 July 2026, that a Marshall Islands flagged tanker loading crude at one of its floating terminals had been hit by a drone. The consortium said the resulting fire was contained and that no damage or casualties were recorded. Media reports said no oil spill was observed after the strike. The same day, the commander of Ukraine's drone forces claimed that five Russian tankers had been struck in the Black Sea, a claim reported by Al Jazeera. Russia's TASS news agency said the Ukrainian drone attack had damaged port infrastructure in the Kuban region of southern Russia. Ukraine's General Staff separately reported long range strikes on the main oil refinery in the Perm region. The CPC is one of the principal export routes for crude from Kazakhstan and southern Russia. Disruption there, alongside pressure on Russia's tanker fleet and ports, is among the factors that have fed into Urals crude and wheat prices in recent days.
Eghtesad Online, citing Mehr News Agency, Al Jazeera and TASS
Ukraine says it hit two major Russian oil refineries in Perm and Ryazan
Ukraine's Security Service and General Staff said in separate statements on Wednesday 29 July 2026 that overnight strikes started fires at a Lukoil refinery in Russia's Perm region, more than 1,500 kilometres from Ukraine, and at a refinery in Ryazan, about 400 kilometres from the border. According to Ukraine, the two refineries have a combined annual production capacity of around 220 million barrels of oil. The Associated Press reported that it was not immediately possible to independently verify the claims. Ryazan Governor Pavel Malkov said only that six people were taken to hospital after a drone attack, adding that drone debris caused fires at unidentified "industrial sites". Russian online retailer Wildberries said it had evacuated employees from a facility in Ryazan. Ukraine's long-range drone and missile strikes have battered Russian oil facilities for months, bringing what the Associated Press described as a fuel crisis. The attacks came hours after Volodymyr Zelenskyy visited Washington on Tuesday for talks with Donald Trump.
Associated Press
Russia's Urals crude jumped 18.76 percent in a day to 85 dollars, and Moscow's oil shares rose with it
Russia's Urals crude reached 85.39 dollars a barrel on Wednesday, 29 July 2026, up 18.76 percent from the previous day. According to Trading Economics data, Urals has risen 46.14 percent over the past month and is up 27.52 percent compared with the same period last year. The grade's record high of 124.85 dollars was set in April 2026. A single day move of this size is unusual. Moscow Exchange data for the same day is consistent with it: the MOEX index rose 2.10 percent to 2,237 points, with oil company shares leading the way as Rosneft gained 4.84 percent, Novatek 3.44 percent, Tatneft 3.42 percent and Lukoil 2.61 percent. Sahmino reports the precise 18.76 percent figure as attributed to that data provider and does not independently confirm it. A narrowing discount on Russian crude matters directly to Iran. Urals barrels and discounted Iranian barrels both go mainly to Chinese refiners and compete with one another, so a more expensive Urals eases the competitive pressure on the pricing of Iran's exports. Despite the gain, the MOEX index remains 4.73 percent lower over the past month and 17.94 percent lower over the past year.
Trading Economics
Russia's Tyumen refinery halts after drone strike, the sixth major plant offline in July
The Tyumen oil refinery in Siberia has suspended crude processing. Reuters reported on Tuesday 28 July 2026, citing two sources in Russia's oil industry, that the halt followed a drone strike on 25 July that set fire to two units at the complex: a diesel hydrotreating unit with a capacity of 2.6 million tonnes a year and a combined high-octane gasoline production unit. The refinery has a nominal capacity of about 9 million tonnes of crude a year, or roughly 180,000 barrels per day. Tyumen is the sixth major Russian refinery to go offline after drone attacks since the start of July 2026, according to the report. Reuters' sources declined to say when it might resume operations. The successive loss of Russian refining capacity tightens product supply in global markets and lifts refining margins. For Iran's market the development matters through two channels: world prices for refined products, and Russia's competition with Iran for Asian crude buyers.
The Moscow Times
Russian foreign ministry: Ukrainian attacks on fuel facilities inside Russia have intensified
Rodion Miroshnik, ambassador-at-large at Russia's foreign ministry, said on Tuesday 6 Mordad 1405 (28 July 2026) that Ukrainian armed forces have intensified their attacks on fuel facilities inside Russian territory. According to the Russian official, between 20 and 26 July 2026 (29 Tir to 4 Mordad 1405), attacks by Ukrainian forces killed 57 civilians in Russia and wounded 435 people to varying degrees, and at least 7,195 projectiles and munitions were fired at civilian targets on Russian soil over the past seven days. These figures are the statement of one party to the conflict and no independent confirmation of them is available. Russia is one of the world's largest exporters of crude oil and refined products, and disruption to its fuel infrastructure can feed through to the global products market.
Mehr News Agency, citing TASS
Russia extends its gasoline export ban to year-end and will lift the diesel export ban
Alexander Novak, Russia's Deputy Prime Minister, told reporters in the Siberian city of Omsk on Saturday, 25 July 2026, that Russia's curb on gasoline exports will be extended through the end of the year. The Russian government has been struggling for months with fuel shortages in its domestic market. Novak also said the diesel export ban will be lifted in due course so that refineries do not face a glut and have to cut processing volumes. Wholesale gasoline prices in Russia have jumped in recent months, driven mainly by Ukrainian drone attacks on Russian refineries and shutdowns at several large complexes. Russia is one of the world's largest exporters of refined products, and keeping its gasoline export route closed, at the same time as disruption in the Strait of Hormuz and the Red Sea, tightens the global product balance further. That matters for Iran, which is itself revisiting gasoline consumption patterns and pricing, both for the regional product market and for oil revenue.
Bloomberg
Black Sea oil exports halted after drone attacks; Caspian Pipeline Consortium stops accepting Kazakh crude
On Saturday 19 July 2026, Ukrainian drones struck two tankers at the Caspian Pipeline Consortium (CPC) export terminal at the Russian port of Novorossiysk, briefly suspending oil loadings. A further tanker was hit on 20 July, halting loadings again. According to Reuters and Bloomberg reports on 21 July, CPC then stopped accepting Kazakh crude altogether after its storage tanks filled up, a sharper disruption than the loading halt itself. The route carries about 80 percent of Kazakhstan's oil exports and close to 2 percent of global supply, roughly 1.5 million barrels a day of Kazakh and Russian crude. The Kremlin said the strikes were aimed at destabilizing the global oil market. The disruption opens a second supply front alongside tensions in the Strait of Hormuz and Bab el-Mandeb, adding to supply worries that lift oil prices and, in turn, weigh on Iran's economy.
Bloomberg
Russia bans diesel exports through end of July, squeezing the global fuel market
Russia imposed a full ban on diesel exports on July 8 to boost supplies to its domestic market. Deputy Prime Minister Alexander Novak announced the decision at a meeting attended by Vladimir Putin. The move follows large-scale Ukrainian drone attacks on Russian refineries that, according to reporting, have knocked out about 25 percent of the country's oil-refining capacity versus a year earlier, causing fuel shortages and rationing (a cap of 20 liters per vehicle) across more than 20 regions. According to CNN and Intercontinental Exchange (ICE) data, the global benchmark diesel price jumped nearly 13 percent on the day the ban was announced. The Russian government said the ban runs through July 31, with pre-existing committed shipments, including a deal with Mongolia, exempted. The restriction is tightening the fuel market just as global energy traders also brace for deeper disruption in the Strait of Hormuz, two forces that can pressure the prices of oil products relevant to Iran.
CNN
With the Strait of Hormuz shut, Russia's oil revenue swells further from the Iran crisis
With the Strait of Hormuz shut and regional oil exports disrupted, Russia's Urals crude has become more attractive to buyers, boosting Moscow's oil revenue. The Bruegel think tank estimated that Russia's oil and gas revenues carried a windfall of about 1,184 billion rubles (close to 13.5 billion euros) tied to the Iran war over March to June 2026. That windfall had narrowed after the 14 June ceasefire memorandum and a temporary drop in prices, but with hostilities resuming in July and tanker transits through Hormuz halting again, analysts say the premium on Russian oil exports has widened once more. Russia is one of the alternative suppliers profiting from the Hormuz-driven rise in oil prices.
OilPrice
Russia's Urals Crude Falls to Pre-Iran-War Levels, Straining Kremlin Budget
Russia's Urals crude averaged $41.66 a barrel over the first three days of July 2026, a $27.35 discount to Dated Brent, according to Argus Media data cited in a Bloomberg report published July 6, 2026. The drop erases the windfall from the Iran war oil price spike that had helped push Russia to a June budget surplus. Russia's 2026 budget was built around an assumed Urals price of about $59 a barrel, so the latest slide threatens to widen the deficit. The move reverses the rising oil revenue trend reported for Russia earlier in July.
Bloomberg
Russia Posts June Budget Surplus as Iran War Oil Rally Lifts Revenue
Russia's Finance Ministry said on Thursday, July 9, 2026, that the federal budget posted a surplus of 279 billion rubles, about 3.7 billion dollars, for June 2026. According to Bloomberg, Russia's oil and gas revenue rose 38 percent year on year in the month, as the Urals crude benchmark averaged 86.52 dollars a barrel in June, up 66 percent from a year earlier, a jump largely driven by the Hormuz related risk premium from the Iran-US war. The Russian government paid out 210.6 billion rubles in refiner subsidies during the same month.
Bloomberg
Russian Urals Oil Discount to India Widens Past $10 a Barrel
According to a Reuters report published July 7 (17 Tir), the discount on Russian Urals crude against dated Brent in Indian ports has widened to more than $10 a barrel, near its widest recent level. Sources say Urals cargoes for August delivery to India have traded at discounts of $10 a barrel or more. The grade had traded at a premium to Brent in India and China from March through June amid supply disruptions from the Middle East war, but that support has faded as Iranian and other Middle Eastern producers resumed exports, giving Asian refiners a wider range of supply options. Weaker refining demand and competition from cheaper Middle Eastern crude were also cited as reasons for the wider discount.
Reuters (via Yahoo Finance)