Could provoke an increase in oil prices: US calls on Ukraine to cease strikes on Russian refineries – Financial Times

The United States has urged Ukraine to cease its strikes on Russian oil refineries. Washington has warned Kyiv that drone attacks could lead to an increase in oil prices and provoke retaliatory measures.

This was reported by the Financial Times, citing sources.

“Repeated warnings from Washington were addressed to senior officials of the Security Service of Ukraine (SBU) and the military intelligence department, known as the GUR,” the Financial Times writes.

“The White House is increasingly disappointed by the bold attacks of Ukrainian drones on Russian oil facilities,” the newspaper writes.

Washington is concerned that oil prices have already risen by about 15% this year, to $85 per barrel.

“This has led to an increase in fuel prices just as U.S. President Joe Biden begins his reelection campaign,” the article states.

“Nothing scares the incumbent American president more than rising fuel prices in an election year,” said Bob McNally, a former White House energy advisor.

The second concern of the Americans is that “Russia may strike back at the energy infrastructure on which the West relies.” This includes, in particular, the pipeline through which oil from Kazakhstan reaches the global market via Russia. This pipeline is used by Western companies, including ExxonMobil and Chevron.

Since 2022, there have been at least 12 attacks on major Russian oil refineries and at least nine this year, as well as several terminals, warehouses, and storage facilities.