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Drone power: Ukraine escalates its war on Russian oil
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
Letter from Iran: Nuclear miscalculation
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
Letter from the UAE: The GCC and Iran – No easy way out
For GCC producers, the ceasefire may prove more destabilising than the war itself: exports remain constrained, and control over Hormuz has shifted in ways that could endure
China’s secure energy transition
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
Do not politicise a geopolitical crisis – Ydreos
The Strait of Hormuz disruption has exposed weakness in the global energy system and reignited debate over security of supply, but it should not be used to justify an accelerated shift away from fossil fuels, says the secretary general of the IGU
A bigger and longer crisis
Attacks on key oil and LNG assets across the Gulf mean a prolonged supply disruption, with damage to Qatar’s export capacity undermining confidence in the global gas system
How Russia gains from the Hormuz supply shock
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
Letter from Dubai: A safe haven under fire
Missiles over Dubai and disruption in Hormuz are testing the emirate’s reputation—and shaking the energy hub at the centre of the Gulf economy
Trump’s bid to reshape the global energy order
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
Energy dominance as diplomatic leverage
Energy sanctions are becoming an increasingly prominent tool of US foreign policy, with the country’s growth in oil and gas production allowing it to impose pressure on rivals without jeopardising its own energy security or that of its allies, argues Matthew McManus, a visiting fellow at the National Center for Energy Analytics
A satellite image shows smoke rising from Russia's Baltic port of Ust-Luga
Politics Russia Ukraine
Tim Crawford
22 April 2026
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Drone power: Ukraine escalates its war on Russian oil

Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow

Ukraine’s ability to target Russian oil infrastructure continues to improve as it rapidly scales up drone production and advances its technology. Ukrainian forces have sustained an intensive campaign of drone strikes against Russian oil refineries, pipelines, terminals and other facilities for more than two years—at times likely causing outages lasting weeks or months at some units. The extent of the damage and its impact is often difficult to verify accurately, however. Russian authorities have an incentive to play down the effectiveness of these strikes. But at the same time, headline claims of sharp declines in Russia's refining and export capacity should be treated with caution, as Petro

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Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
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The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security

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