Ukraine's recent deep strikes on Russian refineries have exacerbated fuel shortages, prompting Moscow to extend its petroleum product export ban. Russia retaliated with a deadly Kyiv attack and boasts of military successes, while discounting crude oil exports to maintain clients. Simultaneously, Russia is reportedly redeploying troops in Ukraine, potentially preparing a renewed offensive. Ukraine claims significant damage to Russian refineries, impacting their oil processing capacity. Allies are meeting to discuss security guarantees for Ukraine, urging US involvement in negotiations.

Prepared by Rachel Morgan and reviewed by editorial team.