Russia launches massive missile attack on Ukraine
Analysis based on 15 articles · First reported Jun 02, 2026 · Last updated Jun 02, 2026
The extensive Russian missile and drone attacks on Ukraine, targeting critical infrastructure and defense facilities, will likely increase volatility in defense and energy markets. The retaliatory Ukrainian strikes on Russian oil facilities could further disrupt global energy supplies, potentially leading to higher oil prices. The ongoing conflict continues to create uncertainty for investors in both countries and the broader European region.
Russia launched a massive missile and drone attack on Ukraine on June 2, 2026, targeting cities like Ukraine — Kyiv, Ukraine — Dnipro, and Ukraine — Kharkiv. The attacks resulted in at least 11 deaths and over 100 injuries, with significant damage to residential buildings and infrastructure. Ukraine's air force reported 656 drones and 73 missiles launched by Russia, including eight Zircon hypersonic missiles. Russia's defense ministry stated it targeted Ukraine's defense industry facilities. In retaliation, Ukraine conducted drone attacks on Russian regions, including the Ilsky Oil Refinery in Krasnodar and the Belgorod region, and the Sevastopol naval base in Russia — Crimea. The Kremlin had previously warned of 'systematic strikes' on Ukraine — Kyiv following a Ukrainian drone attack on a dormitory in Russian-held Luhansk. Ukrainian President Volodymyr Zelensky had warned of a possible major assault. Poland, an EU and NATO member, scrambled military jets to secure its airspace.
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