Russian oil companies may declare force majeure due to attacks on Baltic ports - Reuters
Kyiv • UNN
Due to drone strikes on the ports of Ust-Luga and Primorsk, oil exports have been halted. Fuel loading may not resume until mid-April due to fires.
Russian oil companies have warned buyers that they may declare force majeure on supplies from major Baltic Sea ports due to Ukraine's continued attacks on Russia's energy infrastructure, two industry sources said on Friday. This was reported by Reuters, writes UNN.
Details
Ukrainian President Volodymyr Zelenskyy told Reuters this week that Kyiv is using long-range strikes to maintain pressure on Russia after international oil sanctions against Moscow were eased due to global supply disruptions caused by the war in Iran.
Ukrainian drones attacked the port in Ust-Luga on Friday, where a fire is still burning after a previous strike on Wednesday, sources said.
Oil loading at the port has been halted since Wednesday due to the raids, they added, noting that the official notice from the Ust-Luga port administration does not contain a timeline for resuming exports.
One source said that oil loading from the Ust-Luga terminal may not resume until mid-April.
Primorsk, another major Russian port on the Baltic Sea, also suffered damage during recent attacks, although it partially resumed oil and fuel loading on Thursday.
Alexander Drozdenko, governor of the northwestern Leningrad region, where both ports are located, said on Friday on Telegram that the region has been subjected to "unprecedented" drone attacks since March 22.
According to Reuters estimates based on market data, at least 40% of Russia's oil export capacity has been halted due to Ukrainian drone attacks, a disputed strike on a major oil pipeline, and tanker seizures.