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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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US Defense Secretary Hits Back at Ukrainian Refinery Strike Tactic
US Defense Secretary Lloyd Austin has warned that Ukraine’s recent attacks on Russian refinery infrastructure are a risk to global oil markets and urged them to instead focus on military targets.
- “Those attacks could have a knock-on effect in terms of the global energy situation,” Austin told the Senate Armed Services committee Tuesday. “Ukraine is better served in going after tactical and operational targets that can directly influence the current fight.”
- Austin’s remarks were pushed back against by other officials, claiming the Biden Administration are just trying to avoid high gasoline prices during an election year.
- Ukraine has increasingly targeted Russian refining infrastructure as its situation on the ground increasingly deteriorates.
- The attacks serve multiple purposes, severing Russian fuel supplies, destroying a revenue source and gives Ukraine a bargaining chip with the West to obtain more aid if it potentially agrees to wind down the strikes.
- Ukraine has struck more than a dozen Russian oil refineries since its air offensive began in early January. Questions remain over Russia’s’ ability to get the facilities back online while under sanctions due to parts availability.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.