Putin says Ukrainian refinery strikes cost Russia 1% of GDP, but won't trade halting ship attacks for it

Russian President Vladimir Putin, speaking at the Valdai Forum, rejected a proposed trade-off in which Russia would stop attacking Ukrainian ships in exchange for Ukraine halting its strikes on Russian oil refineries. Putin estimated that the refinery strikes have already cost Russia roughly 1% of its gross domestic product.

He said Russia has enough diesel fuel to cover its own domestic needs, but existing sanctions would keep any surplus off world markets regardless of whether Ukraine stopped its attacks. Putin argued it would look absurd for Russia to halt strikes on targets important to Ukraine's economy while sanctions continue blocking Russian diesel exports.

Russian counter-strikes

Putin also said Russia began striking targets significant to Ukraine's economy in response to the refinery attacks. He claimed these strikes have caused serious damage, saying Ukraine now has virtually no metals industry left.

Trump's involvement

In recent weeks, U.S. President Donald Trump has repeatedly pressed Ukrainian President Volodymyr Zelensky to stop striking Russian oil refineries, linking the strikes to rising global diesel prices tied to the war. Trump said that when he most recently raised the issue, Zelensky replied, "Maybe we'll do that."

In mid-September, Trump claimed Russia and Ukraine had agreed to stop striking each other's energy facilities, though that claim was never confirmed. Kremlin spokesman Dmitry Peskov nonetheless described the idea as "good."