Rouble slips past 75 per dollar as Moscow stocks hit three-year low after refinery drone strikes

Repeated Ukrainian drone strikes on Russian refineries in recent months have tightened fuel supplies, triggering gasoline shortages, surging prices and long lines at filling stations in several regions. The Moscow Exchange index slid to a three-year low, while the rouble weakened past 75 to the U.S. dollar for the first time since May 6. Russia’s central bank warned that reduced fuel output could push inflation higher. The disruptions amount to a material shock to global oil supply by directly affecting refining.