The flow of oil through the Russian port of Ust-Luga in the Baltic Sea has been halted after it was hit by Ukrainian drones.
Bloomberg writes about this.
The publication notes that if the damage to the pipeline system is confirmed, it would create a significant new threat to the supply of oil to the world market. Bloomberg sources say that on January 29, oil flow in Ust-Luga fell to zero. Shipping data obtained by the agency in the area indicate that the last tanker left Ust-Luga on the morning of January 29.
Last year, the port handled about 650 000 barrels of oil per day, about 20% of Russia’s total seaborne flows. Bloomberg notes that Ust-Luga likely has barrels in its storage facilities that could be loaded to cushion the impact of any supply cuts. Russia has not explained the drop in oil flows.
On the night of January 4, Ukrainian drones attacked Russiaʼs largest commercial port Ust-Luga in the Leningrad region. The Ust-Luga terminal is a major logistics hub on the Baltic Sea. Through it, Russia sells oil and gas using a shadow fleet.
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