Russia's Largest Oil Port On The Black Sea Has Halted The Loading Of Tankers

Because of drone attacks.

Russia’s largest oil terminal on the Black Sea, “Sheshkharis” in Novorossiysk, suspended the loading of oil onto tankers on the morning of July 21 due to an increase in attacks by Ukrainian drones. This was reported by Bloomberg citing shipping data, satellite imagery, and information from vessel-tracking services.

As the agency notes, the suspension is unlikely to be related to bad weather, since a storm warning in the terminal area was issued only two days after the last loading was completed. Since the beginning of the year, an average of about 650,000 barrels of oil have been shipped daily through Sheshkharis. Following the port’s shutdown, one-fifth of Russia’s oil exports—which average 3.6 million barrels per day this year—have been paralyzed.

The suspension of the terminal’s operations occurred shortly after Ukraine intensified its strikes against ships in the Black and Azov Seas. Earlier this week, increased drone attacks had already prevented tankers from loading oil at the nearby Caspian Pipeline Consortium (CPC) terminal. As a result, the CPC terminal, which exports 80% of Kazakhstan’s oil, suspended operations, and Kazakhstan itself was forced to reduce production.

The day before, Russian authorities warned all vessels in Russia’s exclusive economic zone in the Black Sea that the area was unsafe due to a potential threat from Ukrainian aerial and maritime drones. As a result, grain exports are also at risk: about one-third of all Russian grain sold abroad is shipped through Novorossiysk.

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