WS #11371
Ukraine confirms drone strike on St. Petersburg oil terminal, disabling 42.74% of Russia's refining capacity; escalation of long-range sanctions campaign. Iran announces special considerations for China in Strait of Hormuz toll regime, signaling potential shift in control and increased geopolitical risk for oil transit. Russia increases June subsidies to refiners by 6x to keep domestic fuel supplies stable, partially offsetting impact of Ukrainian strikes.
Ukraine strikes St. Petersburg oil terminal
Ukraine confirms drone strike on St. Petersburg oil terminal, disabling 42.74% of Russia's refining capacity; escalation of long-range sanctions campaign.
Iran announces special considerations for China in Strait of Hormuz toll regime, signaling potential shift in control and increased geopolitical risk for oil transit.
Russia increases June subsidies to refiners by 6x to keep domestic fuel supplies stable, partially offsetting impact of Ukrainian strikes.