<h1>Ukraine's strikes and Western sanctions aim to reduce Russia's oil export revenues and scale Ukrainian weapon production.</h1> The article reports a claimed 20% reduction in Russia's refining capacity from Ukrainian long-range strikes and emphasizes Ukraine's need for foreign financing to scale production and training for those weapons; it also describes new US and EU sanctions targeting Russian oil companies intended to reduce hydrocarbon export earnings and notes efforts to secure import reductions by major buyer states.