Bloomberg: Russia’s largest port halts operations after Ukrainian strikes

Russia’s largest maritime trade port, Ust-Luga in the northwestern Leningrad region, has suspended operations after being hit by Ukrainian drones, Bloomberg reports, citing sources.  

Oil shipments to Ust-Luga came to a halt on Jan. 29. The drone attack is believed to have damaged the port’s pipeline system, potentially disrupting oil exports “for a prolonged period.”  

“It would present a significant new supply threat for the global oil market if it were to be confirmed,” Bloomberg says.  

Russia’s oil pipeline operator declined to comment on the situation when a Bloomberg reporter contacted it by phone on Jan.30. 

Last year, the port handled around 650,000 barrels of oil daily – about 20 percent of Russia’s total maritime oil exports.  

“It’s still possible that there are barrels in storage available to load, cushioning the impact of any curtailment,” Bloomberg adds.  

On Jan. 4, Ukrainian Security Service (SBU) drones previously struck the port, state broadcaster Suspilne reports, citing Ukrainian intelligence sources. The long-range drones traveled over 900 kilometers (559 miles), reaching near St. Petersburg and successfully hitting their target.  

One drone struck a gas condensate tank, causing severe damage, while three neighboring tanks sustained shrapnel damage from the explosion.  

“Sources added that the SBU’s ‘drone sanctions’ are cutting Russia’s foreign currency inflows needed to finance its war against Ukraine,” Suspilne writes.  

For more on this and other strikes on Russian targets, follow daily updates in “Victory Chronicles”.