On June 2, 2025, Ukraine carried out a massive drone strike on five major Russian air bases, reportedly destroying around 40 military aircraft, including nuclear-capable bombers. The operation, led by Ukraine's Security Service (SBU), was timed just before scheduled peace talks in Istanbul.
Russia’s Response:
Emergency Measures: President Vladimir Putin declared a national emergency and ordered full military mobilization.
Diplomatic Fallout: Russia suspended diplomatic talks with Ukraine and vowed a "full-force" retaliation.
Market & Global Impact:
Oil Prices: Drone strikes on Russian refineries and fuel depots disrupted output, pushing global oil prices up.
Diesel Market: Russia's significant role in global diesel supply (~7%) means disruptions caused a temporary spike in prices, though other nations like India and Turkey are expected to fill the gap.
Global Concerns: Fears of escalation into a broader conflict — possibly even nuclear — have intensified. Analysts warn of the potential for World War III within the next 5–10 years.
Outlook:
The international community is on high alert. While some view the strike as a way to pressure Russia into peace talks, others see it as a dangerous escalation. The path to resolution remains uncertain, with geopolitical tensions flaring across multiple regions.
