The Russia–Ukraine conflict continued to affect energy infrastructure, with Ukrainian President Volodymyr Zelenskyy reporting fresh Russian missile and drone attacks on Ukraine’s power network. The attacks reportedly caused electricity outages affecting more than half a million people, while Ukrainian officials also reported casualties and damage to infrastructure.
The developments follow a major Ukrainian drone assault on Russian territory over the weekend, during which oil infrastructure near St Petersburg was reportedly hit. Russian and Ukrainian officials have continued to accuse each other of attacking energy facilities despite earlier discussions about reducing strikes on such targets.
The continuing attacks are adding uncertainty to global energy markets, where traders are already assessing risks involving Middle Eastern shipping routes. Any sustained disruption to oil production, storage or transportation could keep crude prices volatile. For India, a prolonged rise in oil prices could increase import costs and add pressure to inflation and the rupee.
Leave A Comment