Ukraine strikes on Baltic ports paralyze 40% of Russia's oil exports
Photo: a major fire breaks out at the port of Ust-Luga after a Ukrainian attack (t.me/DniproOfficial)
Nearly half of Russia’s oil export capacity "is at a standstill" after Ukraine carried out successful strikes on the ports of Ust-Luga and Primorsk, Reuters reports.
Unnamed sources in the oil industry told the outlet that Russian oil companies had warned buyers about the risk of declaring force majeure due to Ukrainian attacks on the ports.
Sources said that oil loading at the Ust-Luga port was halted on Wednesday, March 25. One Reuters source added that loading at the Ust-Luga terminal may not resume until mid-April.
The port in Primorsk was also hit in the attacks, but according to journalists, oil and fuel loading there partially resumed on Thursday, March 26.
According to Reuters calculations based on market data, at least 40% of Russia’s oil export capacity is idle due to Ukrainian drone strikes.
Strikes on Ust-Luga and Primorsk
On the night of March 25, Ukrainian forces carried out a drone strike on an oil terminal at the port of Ust-Luga. The attack sparked a large-scale fire.
According to the Security Service of Ukraine, the targets included marine loading arms as well as storage tanks containing oil and petroleum products.
On March 23, Ukrainian drones also struck an oil terminal at the port of Primorsk.
Today, March 27, both ports were attacked again overnight.
