Russia’s energy ministry has promised to defend its oil and gas infrastructure against Ukranian strikes with missiles, Reuters reported on Tuesday. Artyom Verkhov, the director of the energy ministry’s department for gas industry development, has said that a defensive system is already in the works. “We are jointly working, including with colleagues from the Russian National Guard, to cover objects, on installing, accordingly, protection systems such as Pantsir,” Verkhov said.
With Russia’s refining capacity for Q2 now reduced from missile strikes and seasonal planned and unplanned refinery maintenance expected to take place this quarter, the world’s largest fuel exporter could find its revenues curtailed. According to Bloomberg, Ukraine has targeted a collection of Russian oil refineries that account for 12% of Russia’s oil-processing capacity.