Ukrainian forces launched drones against a Moscow oil processing plant on the same day G7 heads gathered in Italy. The strike, confirmed by Kyiv’s military, targeted a node in Russia’s fuel supply chain, aiming to disrupt output ahead of the summit. Analysts see the move as retaliation and a signal to Western leaders. The plant handles about 1.5 million barrels a day, a slice of Russia’s export revenue.

A day earlier Russia unleashed missiles and drones on Kyiv and other Ukrainian cities, killing at least 11 people and damaging a cathedral. The escalation underscores the tit‑for‑tat dynamic that has rattled security and pushed energy prices higher, as traders price in supply shocks from Ukrainian attacks on Russian infrastructure. Damage to the cathedral sparked international condemnation, highlighting the human cost behind the strategic calculus.

Investors monitor fallout; any disruption to Russia’s oil output could tighten supplies and lift Brent futures. G7 ministers are expected to discuss additional sanctions that might target energy exporters linked to Moscow’s war machine. Energy firms with exposure to Russian crude are revising quarterly forecasts as the conflict reshapes supply chains, adding immediate volatility to markets.