Ukrainian forces hit and damaged the Moscow Oil Refinery and a Druzhba oil pipeline facility in Oryol Oblast in a fierce overnight drone attack on Monday, the General Staff of Ukraine’s Armed Forces has reported. According to Ukrainian officials, the giant refinery–capable of processing 11 million metric tons of oil per year and covers nearly half of Moscow’s gasoline and diesel supplies–was hit multiple times, although Gazprom Neft, which owns the refinery, didn’t respond to a Bloomberg request for a comment. 

According to the General Staff, the operation “struck a number of Russian strategic objects, enabling armed aggression against Ukraine.” Lately, Ukraine has launched targeted attacks on industrial and military facilities in Russia’s rear in a bid to undermine Moscow’s ability to wage its war. 

The attacks came as a delegation of U.S. officials arrived at Saudi Arabia for peace talks with Ukraine. Ukrainian officials have revealed that Kyiv is planning to propose a ceasefire in the sea and sky during the truce meeting, with Trump telling reporters he believes the talks will result in “a lot of progress”. 

Last month, Ukrainian President Volodymyr Zelenskyy declined a proposal by Trump to acquire approximately 50% of Ukraine’s rare earth mineral rights. Valued at several trillion dollars, Ukraine’s mineral reserves include lithium, titanium and graphite that are essential for high-tech industries. The proposal was delivered by U.S. Treasury Secretary Scott Bessent as part of a bid to compensate Washington for assistance to Kyiv. Trump had suggested that Ukraine owed the United States $500 billion worth of resources for its past military support. 

However, Zelenskyy is seeking better terms, including U.S. and European security guarantees. Trump’s initial proposal did not include provisions for future assistance, which Zelenskyy deems necessary. Zelenskyy’s team has developed an offer for amineral partnership in exchange for security guarantees, which was announced earlier this month.

By Alex Kimani for Oilprice.com

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