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Selling extra oil at increased costs should be the stuff of goals for a petrostate. However for Russia it’s a signal of a brand new, punishing section in its warfare with Ukraine. Months of Ukrainian drone strikes on refineries have crimped Russia’s capacity to provide refined fuels, similar to diesel and petrol, and turned the world’s third-largest oil producer into an importer of petrol. Vitality corporations have tried to pare their losses by promoting unrefined oil abroad, pushing exports to a ten-month excessive in March.
