How Russia's hypersonic missile attacks on Kyiv could spark an energy crisis and affect your gas prices
Ukrainian President Volodymyr Zelenskyy said Sunday Russia used the powerful hypersonic Oreshnik ballistic missile during a mass drone and missile attack on Kyiv on Sunday that killed at least two people.
Ukrainian President Volodymyr Zelenskyy reported that Russia used the powerful hypersonic Oreshnik ballistic missile during a mass drone and missile attack on Kyiv, resulting in at least two fatalities. The attack occurred on Sunday and marked the third time the weapon has been used. Russian forces launched a total of 29 missiles, including the Oreshnik, and 17 drones at Kyiv. The Ukrainian military was able to intercept 23 of the missiles and all but one of the drones.
The increased use of hypersonic missiles by Russia could lead to a disruption in global energy markets, potentially affecting gas prices. As the conflict escalates, the risk of damage to Ukraine's energy infrastructure grows, which could have a ripple effect on the global supply chain. This could result in higher gas prices, with some estimates suggesting an increase of up to 10%. The impact would be felt by consumers who rely on gasoline for transportation.
The use of hypersonic missiles by Russia is part of a larger pattern of escalation in the conflict. Prior to this attack, Russia had been using drones and cruise missiles to target Ukrainian cities. The introduction of hypersonic missiles marks a significant increase in the severity of the attacks, and insiders believe it may be a sign that Russia is becoming more desperate. The Oreshnik missile is particularly concerning due to its ability to evade air defenses.
In the coming weeks, the Ukrainian government is expected to request additional military aid from its allies to help counter the Russian threat. A key decision will be made on June 1, when the European Union is set to discuss further sanctions on Russia. Interestingly, the Oreshnik missile is not only a powerful weapon but also a relatively expensive one, with each missile costing an estimated $10 million, which may limit Russia's ability to use them in large numbers.
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