EU

Ukraine conducted drone strikes on two oil refineries in Russia’s Samara Oblast on Saturday, targeting facilities vital to Russia’s energy infrastructure. The Novokuybyshevsk refinery experienced significant fires, while the Syzran facility was hit shortly after, impacting fuel supplies crucial for domestic and export distribution.

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Hungary’s incoming Prime Minister Péter Magyar announced that oil flows from Russia via the Druzhba pipeline could potentially resume next week, following communication from Hungary’s MOL. This pipeline, delivering oil through Ukraine, was halted after damage from a Russian drone strike in January, straining relations with Kyiv.

EUROPE MORNING BRIEFING

This morning, tensions escalated as Iran’s new Supreme Leader vowed retaliation against the US and Israel for airstrikes. The European Union is closely monitoring developments amid ongoing military actions that have significant regional implications.

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