At least 40% of Russian oil exports were halted after a series of Ukrainian drone attacks, Reuters reports, citing market estimates.
The agency emphasizes that this is the “most serious disruption of shipments in Russia’s modern history,” with Russia regarded as the world’s second-largest oil exporter. Earlier, oil prices rose above $100 per barrel after the start of the war with Iran.
According to Reuters, shipments through the ports of Primorsk and Ust-Luga were effectively interrupted because of the Ukrainian drone attacks. In its calculations, the news agency also took into account the stoppage of supplies via the Druzhba pipeline, reduced shipments through Novorossiysk, attacks on pumping stations in Krasnodar Krai, and the detention in Europe of tankers carrying oil from Murmansk.
At the same time, some routes are still operating without serious disruptions. These include pipeline supplies to China, shipments via ESPO (the port of Kozmino), as well as exports from Sakhalin projects and supplies to Belarusian refineries.
Earlier it was reported that Russia’s ESPO crude in the port of Kozmino (Primorsky Krai) rose above $100 per barrel for the first time in the past 10 years. Its key buyer is China, while some cargoes are sent to India.