Trump's reference to Russian refineries comes at a time when Ukraine has intensified drone attacks on Russian energy facilities, particularly oil refineries, in an attempt to limit Moscow's ability to produce fuel and the energy revenues that fund the war.

Meanwhile, the Kremlin has vowed that "Ukraine will pay the price for bombing oil refineries."

Pre-war Levels

These statements come at a time when oil exports from the Middle East, excluding Iran, have surpassed pre-war levels over the past week, despite attacks targeting tankers in the Strait of Hormuz, according to data from Kepler, a company specializing in tracking maritime traffic.

For the first time since the outbreak of the war in the Middle East with the U.S. and Israel launching their attack on Iran in late February, the average weekly flows of non-Iranian crude oil coming from Gulf countries and Iraq through Hormuz rose for several consecutive days last week, exceeding the pre-war rate of 18 million barrels per day.

Since the outbreak of the conflict, Iran has claimed to control the strait, while Washington has imposed and continues to maintain a tight maritime blockade on Iranian ports, while Iran demands that ships wishing to cross the strait obtain its approval.