Economy

Zelenskiy vows to hit Russian refineries as Ukraine's economy strains under the war

Ukrainian President Volodymyr Zelenskiy said Ukraine will strike Russian oil refineries in response to Moscow's "new doctrine" of airstrikes.

At the same time, Kyiv is scrambling for money to keep fighting as Russian strikes batter Ukraine's economy.

For beginners A prolonged war typically raises government spending and erodes the tax base, forcing a country to seek outside financing — one channel through which geopolitics affects public finances.