Rosneft admits losses from Ukraine's refinery strikes becoming unsustainable, Bloomberg reports

Key Points:

• Rosneft, Russia's state-run oil giant, is experiencing significant financial strain and potential long-term damage due to Ukraine's intensified strike campaign targeting Russian oil refineries, including several of Rosneft's key facilities.
• The Ryazan Oil Refinery, one of Rosneft's largest, has been frequently shut down or operating below capacity since Ukrainian drone attacks began, severely impacting fuel supply to Moscow and western Russia.
• Other major Rosneft refineries, such as Syzran and Tuapse, have also faced prolonged shutdowns or reduced operations, disrupting military fuel supplies and export capabilities.
• Rosneft's profits have declined sharply, with a nearly 20% drop in net income in the first half of 2026 and rising debt levels, while repair costs have escalated amid challenges posed by international sanctions restricting access to critical parts.
• Despite these difficulties, Rosneft claims it is maintaining fuel supply and stable prices, even as Russia faces fuel shortages and export restrictions, with some relief coming from a controversial diesel purchase deal announced by U.S. President Donald Trump.