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Putin rejects energy ceasefire at Valdai, says Ukrainian refinery strikes cost Russia 1% of GDP
Putin rejected a mutual halt to energy strikes at Valdai, said Ukrainian refinery attacks cost Russia 1% of GDP, and warned of nuclear defence of Kaliningrad.
Why it matters
Putin publicly quantified the damage from Ukraine's refinery campaign for the first time — 1% of GDP — and used it to justify rejecting any pause in strikes on energy infrastructure. With Russia also extending its diesel export ban and China halting October fuel exports, the energy war is tightening global fuel supplies from multiple directions at once.
Full report
Russian President Vladimir Putin on Thursday rejected a proposal for a mutual halt to strikes on energy facilities and commercial vessels, calling the idea "simply ridiculous" during a plenary session of the Valdai Discussion Club in Moscow, according to Interfax.
The proposal followed the September 22 meeting in New York between US President Donald Trump and Ukrainian President Volodymyr Zelenskyy, at which Zelenskyy said Kyiv was ready to stop striking Russian oil refineries if Moscow halted its attacks on Ukrainian energy infrastructure. Putin replied: "How is our diesel supposed to reach the global market if the sanctions remain in place?"
Putin acknowledged that Ukraine's refinery strikes had "partially achieved their objectives," estimating the damage at about 1% of Russia's gross domestic product, and said Russia was now responding in kind with strikes on Ukraine's steel industry, supply chains and railways. He also warned the West against threatening the Russian exclave of Kaliningrad, pledging to defend it with all weapons at Russia's disposal, including nuclear weapons, if directly attacked.
Separately, Russia has extended its diesel export ban for fuel producers through the end of October, adding pressure to an already tight global diesel market. Putin said he supported the idea of a trilateral meeting with Trump and Chinese President Xi Jinping, though no agenda has been agreed.
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