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Ukraine’s Drone Campaign Dealt $13 Billion Blow to Russia’s Oil Industry in 2025
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![Photo of Ivan Khomenko]( "Photo of Ivan Khomenko")
The Russian oil sector incurred more than $13 billion in direct and indirect losses as a result of Ukrainian drone attacks in 2025, according to senior officials at the Russian insurance broker Mains, cited by Kommersant on February 10.
Evgeny Borovikov, Deputy General Director of Mains, stated that the direct financial damage to oil and gas facilities from drone strikes exceeded 100 billion rubles (approximately $1.1 billion).
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However, when accounting for lost revenue and indirect impacts, the total losses surpassed 1 trillion rubles (about $11.5 billion).
According to Bloomberg, which based its estimates on statements from both Ukrainian and Russian officials, Ukraine conducted 120 strikes on Russian energy infrastructure throughout 2025.
Of these, 81 targeted oil refineries—making them the most frequent objective. Maritime infrastructure, including offshore oil and gas platforms, was attacked 27 times. Pipelines were struck on eight occasions, and oil tankers were targeted in four incidents.
The highest monthly number of refinery attacks occurred in August (14), while December saw the most overall attacks (24).
Consulting firm Argus reported a sharp decline in crude oil deliveries via pipelines to Russian refineries, which dropped to their lowest level in 15 years. In 2025, Russian refineries received 228.34 million tons of crude oil—1.6% less than in 2024. Total domestic refining output fell by 1.7%, down to 262.3 million tons.
The financial consequences of the strikes extended beyond the oil industry. Russian insurance companies faced a surge in claims under terrorism and sabotage risk categories. According to Kommersant, payouts in these categories exceeded the total value of premiums collected.
Alexei Khutoryansky, head of corporate underwriting at insurer Soglasie, said that the loss ratio on relevant insurance portfolios increased tenfold, with premiums no longer covering the volume of payouts.
Other major insurers cited similar trends. One market participant estimated losses had grown by at least 200%, while insurance broker Remind reported a significant rise in the frequency of incidents and claimed that average losses from a single refinery attack often reached several hundred million rubles (equivalent to $5–10 million).
Earlier in December, Bloomberg reported that Ukraine carried out a record 24 strikes on Russian oil refineries, maritime terminals, and pipeline infrastructure, marking the most extensive campaign against Russia’s energy sector since the start of the full-scale invasion.
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