Summary:
- According to a Reuters report, at least three Russian oil refineries are on the verge of closure due to the impact of Western sanctions on Russia's economy following the invasion of Ukraine.
- The refineries facing potential closure are located in the Volga region and the Urals, two major oil-producing areas in Russia. The sanctions have disrupted the supply of crucial equipment and spare parts needed for maintenance and operations.
- The closure of these refineries could further strain Russia's ability to meet domestic fuel demand, potentially leading to shortages and higher prices for Russian consumers.