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Trump Blames Ukrainian Strikes on Russian Refineries for Rising Oil Prices
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News18•05-10-2026, 23:04
Trump Blames Ukrainian Strikes on Russian Refineries for Rising Oil Prices
- •US President Donald Trump stated that rising petrol prices are driven by Ukrainian strikes on Russian oil refineries rather than the conflict involving Iran.
- •Trump highlighted that oil supplies through the Strait of Hormuz have recovered and criticized refinery closures in Democratic-led states like California.
- •Ukraine claimed its long-range drone strikes have disabled more than half of Russia's oil refining capacity, impacting facilities in Moscow, Yaroslavl, and other regions.
- •Russian President Vladimir Putin acknowledged that the refinery attacks have cost Russia about 1 percent of its gross domestic product.
- •Saudi Aramco CEO Amin Nasser warned that global oil inventories remain scarily thin due to the wider Middle East conflict, noting that emergency reserves only offer temporary relief.
Key Questions Answered
US President Donald Trump blamed Ukrainian attacks on Russian oil refineries for driving up petrol and energy costs, noting that supplies through the Strait of Hormuz have recovered. He also criticized refinery closures in Democratic-led states like California.
According to Ukraine's Defence Ministry, long-range strikes have knocked out 51% of Russia's oil refining capacity by targeting facilities in areas such as Moscow, Yaroslavl, Ust-Luga, Perm, Saratov, and Syzran.
Russian President Vladimir Putin acknowledged that the refinery attacks had cost Russia about 1% of its gross domestic product and admitted that the strikes had achieved their goal "partially".
