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Market Chatter: Ukraine Strikes Rosneft's Refinery in Ryazan

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Ukraine struck Rosneft's PJSC oil refinery in the Russian city of Ryazan overnight Saturday to Sunday its General Staff said, according to Bloomberg.

The governor of the Ryazan region, Pavel Malkov, said that a fire had erupted at an unspecified industrial facility following attacks from Ukrainian drones, according to a post on the Telegram messenger service.

The attack came as US envoys Jared Kusher and Steve Witkoff arrived in Kyiv to meet Ukraine's President Volodymyr Zelenskiy, having first met Russian President Vladimir Putin, in a new diplomatic push to end Russia's war on its neighbor, now in its fifth year.

The Bloomberg article noted that US Treasury Secretary Scott Bessent had recently mentioned Ukraine's growing ability to attack Russian energy assets as a contributor to the rise in global energy prices, underscoring the extent of the damage it has managed to inflict, depriving Russia of revenue to fund its war.

The Ryazan refinery is about 75 miles southeast of Moscow and 530 miles northeast of Kyiv and it has been attacked several times in the last year as technological advances enable Ukraine to increasingly counter-attack. The plant can handle 340,000 barrels of crude oil per day, Bloomberg said.

has reached out to the Ukrainian defense ministry seeking confirmation and comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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