Bitcoin (CRYPTO: BTC) dropped 3% as Ukraine drone strikes resulted in a 40% reduction of Russia’s oil export capacity, coinciding with $171 million in ETF outflows—the largest single-day withdrawal in three weeks.
Ukraine Blows Up Trump’s Oil Plan
President Donald Trump lifted sanctions on Russian crude to compensate for oil supply disruptions caused by the Iran war and cool energy markets.
Ukraine destroyed that strategy this week with drone strikes on ports and refiners in Russia’s Leningrad region.
The damage represents “the most serious threat” to Russia’s oil exports since Putin’s full-scale invasion of Ukraine in 2022, according to observers.
About 40% of Russia’s oil export capacity is now offline, creating what Oilprice.com editor Michael Kern described as “a logistics problem first—and a supply problem second,” CoinDesk reported.
“In conjunction with the war in the Middle East and de facto closure of the …