Ukraine just took its drone war to a new front: Russian online shopping.
After hitting Wildberries warehouses, Ukrainian forces have now set their sights on Ozon, another major Russian e-commerce company. The message is clear - no part of Russia's economy is off the table.
Ozon shares lost about a third of their value during Monday trading in Moscow after the attacks. The sell-off came fast and hard, showing how nervous investors are about the new strategy.
A drone strike on an Ozon warehouse in the Samara region on Saturday sparked a fire and forced the evacuation of over 500 workers. That was just one of six logistics facilities hit in the last three days, with other attacks targeting hubs in Makhachkala, Dagestan, and the town of Enem near Krasnodar.
The Ukrainian Defense Ministry described the campaign as a systematic effort to disrupt supply chains. "Systematic strikes on storage centers holding dual-use goods are disrupting the enemy's logistics and negatively impacting Russia's economy as a whole," the ministry said. The ministry added that after Ukrainian units hit 15 of Wildberries' largest logistics hubs, "it's now Ozon's turn."
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Russia's top three e-commerce firms - Wildberries, Ozon, and Yandex Market - pulled in around $140.3 billion in combined revenue last year. That is over 5% of Russia's GDP, making these companies a tempting target for a country trying to squeeze the enemy's wallet.
Ukrainian President Zelenskyy justified the attacks on Wildberries warehouses by claiming they supplied Russian forces with drone parts and military equipment. The strategy is simple: hit the supply chains, pressure Putin's wartime economy, and hope the cracks widen.
These logistics centers have become critical infrastructure for Russia's wartime supply lines, with warehouses handling everything from consumer goods to components that can support military production. The choice of e-commerce as a target reflects a broader shift in Ukraine's military thinking - rather than focusing solely on battlefield positions, Ukrainian planners are increasingly looking for ways to disrupt the economic machinery that keeps Russia's war effort functioning. By attacking these distribution networks, Ukraine aims to create bottlenecks that affect both civilian life and military logistics.
The drone campaign against Russian logistics and economic infrastructure represents a significant evolution in Ukraine's military strategy. Throughout the conflict, Ukraine has progressively expanded its targeting from purely military installations to include fuel depots, refineries, and now commercial distribution networks. This shift reflects both Ukraine's growing drone capabilities and a recognition that economic pressure can complement battlefield gains. The attacks on e-commerce hubs are particularly notable because they target infrastructure that serves both civilian and military purposes, making it harder for Russia to claim the strikes are purely indiscriminate.
Ukraine's Defense Ministry has framed the warehouse attacks as part of a broader push against the economic assets that keep Moscow's war machine running. Wildberries, Ozon, and Yandex Market together account for a substantial share of Russian online sales, which is why the campaign has focused on their distribution hubs. By striking these centers, Ukraine hopes to create supply chain problems that ripple through both the civilian economy and military procurement.
According to analysts, Russia's economy has been under significant pressure since the full-scale invasion began, with defense costs, increased taxation, and state-backed lending all contributing to the strain. These drone strikes add a new layer of pressure on top of existing sanctions and inflation.
Putin has promised retaliation, saying Ukraine's actions have created a dangerous new phase in the conflict and vowing to target Kyiv's "most sensitive economic sectors." That threat raises the stakes for both sides, turning the war into a battle over infrastructure and commerce, not just front lines.
For investors watching Russian assets, the message is getting harder to ignore. When drones can shut down warehouses and wipe out nearly a third of a company's value in a single day, the risk picture changes dramatically.
The question now is whether Ukraine keeps pushing deeper into Russia's economic heartland - and how much more damage these strikes can do before Moscow finds a way to stop them. For anyone holding Russian stocks or bonds, that is not just geopolitics. It is a direct line to their portfolio.
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