Already Russia has been subject to many months of a ramped-up long-range drone campaign out of Ukraine, chiefly targeting oil refineries as well as industrial sites - and most recently expanding to online retail companies and attacks on private sector businesses.
Tuesday saw one of the single biggest drone waves on Moscow of the war, for example, with at least 600 sent against against the capital region, resulting in widespread panic and some casualties. Making matters worse for the Russian population, several gas station networks have introduced new restrictions on fuel sales - which is a rarity for the capital.
Getty ImagesGazprom Neft as well as Tatneft have confirmed via representatives and their customer service lines that limits have now been placed on petrol sales at Moscow filling stations.
Long lines of cars have been observed at filling stations in and around the capital city, with Reuters detailing the following:
These companies have also been warning customers to be prepared for longer waiting times for fill-up due to heightened demand.
One reason being offered by Russian energy giants for the delays is "unscheduled refinery maintenance" - which is a vague but obvious reference to damage left in the wake of Ukraine's constant drone attacks on the nation's oil and refining infrastructure.
As for the latest attacks, on Wednesday it's being widely reported that Ukrainian drones struck an oil refinery and a residential building in the republic of Bashkortostan, regional head Radiy Khabirov also confirmed.
The incident once again demonstrates the very far reach of Ukrainian drones, given that Bashkortostan is fairly remote from the Ukraine border, lying north of Kazakhstan.
Frustration returns at the pumps...
Russia’s fuel crisis is back—and so are the queues.
Recent videos show drivers waiting for petrol across Moscow and multiple Russian regions. In some places, frustration is spilling into fights at the pumps. 🧵
(Video: @ASTRA_PRESS) pic.twitter.com/6i06lHrAiY
"We're currently assessing the damage, but preliminary reports indicate that a unit undergoing maintenance was hit. As always, falling debris damages pipes, so there’s minor damage," Khabirov told TASS. "I expect everything will be repaired in a couple of days," the official added.
Starting late last week, Russian officials began openly acknowledging a renewed fuel shortage crisis. Oil companies are "taking the necessary measures to increase deliveries to the most vulnerable regions," a somewhat rare Kremlin statement said at the time. This current crisis has been deemed the 'second wave' fuel shortage to hit Russia.
Tyler Durden Wed, 08/19/2026 - 10:20Asian equities fell sharply overnight as the regional semiconductor rout intensified following another downdraft in US chipmakers on Tuesday (read morning wrap). Japan, South Korea, and Taiwan led the regional declines, while Chinese stocks also weakened despite the blockbuster IPO of humanoid robotics maker Unitree.
Against that bearish backdrop, SK Hynix announced the largest share buyback in South Korean history, a highly aggressive attempt to arrest a six-week selloff that has erased roughly half of its market value. The scale of the buyback shows just how concerned management is that the drawdown has become disconnected from the company's fundamentals and underscores its desire to put a floor under the stock.
Nikkei Asia reports that SK Hynix's stock buyback program totals a staggering 40 trillion won, or $28.6 billion, and will involve purchasing 24.1 million treasury shares in the open market from Thursday through Nov. 19 to improve shareholder value.
"The decision stems from the assessment that the company's intrinsic value -- underpinned by its business competitiveness, robust cash generation capability, and mid-to-long-term growth potential -- is not fully reflected in its current stock price," SK Hynix said in a statement. The company noted that progress toward its financial health targets remains on track, affirming its "commitment to maintaining a stable financial structure while delivering sustained shareholder value."
SK Hynix's announcement followed a nearly 10% drop in the stock during overnight trading in South Korea, as rising bond yields, persistent inflation, and the deepening US-Iran crisis sparked a broader move out of semi stocks. Samsung Electronics also tumbled nearly 8%, while South Korea's main equity index, the Kospi, fell 5.8%.
Jefferies analyst Lloyd Byrne warned clients on Monday that rising energy prices and an elevated rate environment, especially in the US, have sparked a rotation out of semiconductor stocks and into high-quality energy and materials stocks (read report).
Here's more color on SK Hynix's buyback program from the Japanese outlet:
SK Hynix said the buyback program marks the largest treasury share cancellation ever conducted by a South Korean-listed company. The Lee Jae Myung government encouraged listed companies to buy back and cancel treasury shares to address the so-called Korea discount, in which investors have historically undervalued the country's stocks due to poor corporate governance and low shareholder return.
Macquarie analyst Daniel Kim provided clients this morning with why the buyback program is very important:
Why it matters
What now
SK Hynix's shares in Korea are down 45% on the year. US ADRs are up 6% in early trading.
SK Hynix accounted for 21.43% of the Kospi's market capitalization at Tuesday's close, making it the index's second-largest constituent, behind Samsung Electronics at 27.71%.
Any reversal in SK Hynix could help stabilize the broader equity index...
... and are about to blow up all over again https://t.co/vU9i4jXYXk
— zerohedge (@zerohedge) August 19, 2026 Tyler Durden Wed, 08/19/2026 - 10:00