Ukraine has succeeded in depriving Russia of much of the windfall profits it would have made from oil exports during March and April, as the war in the Gulf sent prices soaring to above $100 a barrel, a series of sources suggest.

Ukraine intensified a long-range strike campaign against Russian port and energy infrastructure on March 21 in a calculated bid to prevent Russia from offloading oil onto tankers and to counteract the suspension of US sanctions on Russian oil, which had been in place since 2022.