Russia’s wartime oil revenues are under mounting strain as Ukrainian drone strikes and Western sanctions converge to cripple the country’s refining sector and export capacity.
Dmitriev claimed sanctions would have no impact, but Bessent stresses that oil profits down 20%, inflation above 20%, and Russia’s wartime economy reeling.
Austria had insisted Brussels unfreeze Russian assets to compensate for penalties imposed by Moscow, but has now dropped the demand ahead of a vote scheduled for 20 October.
16 of Russia's 38 oil refineries have been struck since August using domestically produced Flamingo cruise missiles and FP-1 drones that can reach targets as far as 3000 km (1864 miles) deep inside Russia.