Leaked Russian Reports Reveal Oil and Banking Crisis, Zelenskyy Says

Ukraine’s Foreign Intelligence Service has obtained internal Russian documents indicating growing economic pressure inside Russia, according to Ukrainian President Volodymyr Zelenskyy on May 18. Zelenskyy said the materials point to mounting problems linked to the war and Western sanctions.

In a statement published on Telegram, Zelenskyy said the materials contain what he described as Russia’s “internal assessment,” which Moscow is allegedly attempting to conceal from both domestic and international audiences.

According to Zelenskyy, one of the indicators highlighted in the documents is the shutdown of active oil wells. He stated that one Russian oil company had already been forced to suspend operations at around 400 wells.

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“Considering the specifics of Russian oil extraction, these are significant losses, because restarting wells in Russia is much more difficult than in other oil-producing countries,” Zelenskyy said.

The president also said Russian oil refining volumes had declined by at least 10% over the past several months in 2026. Zelenskyy linked the reported decline to Ukrainian long-range strikes targeting Russian energy and industrial infrastructure.

“We see that our Ukrainian long-range sanctions are truly working, and we will continue to expand this direction of our active measures,” he added.

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According to the information cited by Zelenskyy, the documents also describe increasing strain in Russia’s banking sector. He said 11 Russian financial institutions are preparing for liquidation, while another eight banks have accumulated what he described as “critical problems” requiring outside support.

Zelenskyy additionally claimed that Russia’s federal budget deficit had already reached nearly $80 billion by May, alongside what he called bankruptcies affecting a significant number of regional budgets.

Earlier, The Moscow Times reported that Russia’s oil production is projected to fall to its lowest level since 2009, with output expected to decline for a fourth consecutive year in 2026 amid sanctions pressure, reduced drilling activity, and worsening financial conditions for major oil companies.

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