Russian forces carried out yet another drone attack on energy infrastructure facilities in Odesa Oblast on the night of 30-31 October. Quote: "A hit has been recorded at an industrial facility despite active air defence efforts. A fire broke out, which was quickly extinguished by firefighters."

In addition to the economic warfare, Ukraine’s long-range strikes on refineries had by last month destroyed or damaged about 20 percent of Russia’s refining capacity, according to one analyst. That has caused severe gasoline shortages in several regions, as Ukraine tries to bring the pain of war to ordinary Russians.

Good afternoon and happy Thursday, readers! President Donald Trump has reached a truce with Chinese President Xi Jinping on rare

Nor is Russia able to reroute its electrons from the export market to domestic consumption. Electricity exports to China have all but collapsed (down over 70% from 2024 levels). The system operator now openly floats importing power from China to keep the lights on in the east while new plants and lines are built.

How America and its allies can sanction Russian energy—and limit Putin's ability to finance his war in Ukraine.