While attention this week has been fixed on the lower part of Eurasia, where the U.S. and Iran have finally signed an interim peace deal to reopen the Strait of Hormuz and begin normalizing tanker flows through the critical waterway, the other major conflict area in Eurasia is flashing new warning signs.

Overnight developments in the Russia-Ukraine war suggest the fighting continues to grind on with no near-term off-ramp, as critical energy infrastructure remains in the crosshairs.

Bloomberg reports that Ukraine launched its largest suicide drone barrage against Moscow to date, including strikes reaching the Moscow Oil Refinery.

The drone swarm attack disrupted operations across the capital on Thursday. All four civilian airports in Moscow suspended flights, Sheremetyevo evacuated passengers to shelters, and local authorities shuttered several major highways.

A major refinery owned by Gazprom Neft was hit again after an earlier strike this week set parts of the facility ablaze.

Footage on X shows the drone swarm attack.  

Russia's Defense Ministry said air defense systems downed 555 Ukrainian drones across 17 regions and occupied Crimea.

Ukrainian forces said they shot down four of seven Russian ballistic missiles and 212 of 239 drones targeting Kyiv, Poltava, Chernihiv, and Sumy.

The escalation by both sides comes as President Trump kicked off the G7 summit in France earlier this week, meeting with Ukrainian President Volodymyr Zelenskyy and other G7 leaders.

"We had a very good meeting," Trump told reporters after the meeting. "Russia should make a deal. Russia has lost tremendous amounts of people and so has Ukraine."

With a temporary peace now holding in the Middle East as U.S. and Iranian negotiators begin nuclear talks, the White House's geopolitical focus may be shifting back toward Eastern Europe.