According to the Financial Times, the United States administration is putting pressure on Ukraine to stop attacks on Russian refineries. Presumably, in this way, the US authorities are trying to prevent an increase in the cost of fuel against the backdrop of the upcoming US presidential election, which could have a negative impact on Joe Biden's chances of being re-elected.
Three of the publication's sources, on condition of anonymity, say the U.S. is expressing its concerns to Ukraine, highlighting the risk of higher gasoline prices ahead of the November elections. Bob McNally, head of the Rapidan Energy consulting firm and a former White House energy adviser, notes that in the U.S., rising fuel prices in an election year are of particular concern to the current government.
Washington is also worried about possible Russian retaliation, which could target key fuel infrastructure important to the West. For example, an oil pipeline from Kazakhstan that runs through Russian territory is used by major oil companies including ExxonMobil and Chevron. Last year, Russia already suspended oil transit along this route.
Over the past week, Ukrainian drones have attacked seven oil refineries in Russia. Since the beginning of 2022, the total number of strikes has reached 12, including hitting several fuel storage facilities and export terminals. This poses a risk to 60% of Russia's oil and oil product exports. Despite the sanctions, Russia continues to be one of the leading players in the global energy market.
