The war in Ukraine has turned into a domestic fuel crisis, with 50mn Russians—35% of the population—facing long waits at pumps. Queues stretch from Moscow to Siberia as local governments ration refuelling days and deploy Cossacks to keep order.

Ukrainian drones have struck 10 of Russia’s largest oil refineries, including Omsk, which accounts for 7% of national refining capacity. Analysts estimate 20-40% of overall capacity is down, reducing daily output to 4.1mn barrels, 28% below the five‑year average and 35% under nominal capacity.

In response, Russia has imported a record 141,000 tonnes of petrol from Belarus—141 times the volume a year earlier—and banned diesel exports to shore up the front‑line supply. Airlines, taxi firms, and the e‑commerce giant Wildberries warn of price hikes, while some retailers halt operations until fuel stabilises.

For investors, the short‑term squeeze signals rising input costs across transport and retail, but the long‑term shift toward lower‑grade fuels and increased import dependence may reshape Russia’s energy market resilience.