Russian Oil Exports Halted at Sheskharis Terminal in Novorossiysk Due to Drone Attack and Fire — Reuters

The export of crude oil from the Sheskharis terminal, located in the Black Sea port of Novorossiysk, has been halted due to a significant drone attack that resulted in a fire at the site. This information was reported by Reuters, citing two sources with knowledge of the events.

The Sheskharis terminal serves as a crucial export hub for Russia in the Black Sea, capable of loading up to 700,000 barrels of crude oil per day. The suspension of its operations, according to journalists, could significantly increase the burden on Russian infrastructure, which has already faced multiple attacks, presenting new challenges for the country.

Additionally, sources indicated that oil exports from Russia's main Baltic port, Ust-Luga, have also been suspended since last week due to powerful strikes and the outbreak of fires. This suggests that the situation surrounding Russian oil exports is becoming increasingly complex.

Insiders noted that Russia will be forced to cut oil production as stocks begin to accumulate and storage facilities fill up. Meanwhile, international demand for alternatives to oil from the Middle East remains high. This could result in Russia being unable to fully capitalize on the spike in oil prices caused by the war in Iran.

As of now, the port of Novorossiysk has not yet assessed the extent of the damage incurred. It is worth mentioning that a previous attack in early March led to a five-day suspension of shipments, which already caused serious issues for the Russian economy.

The Sheskharis terminal handles the transshipment of Russian Urals crude oil, Kazakh KEBCO, and low-sulfur Siberian Light oil. On the night of April 6, Telegram channels reported an attack on the Sheskharis oil terminal in Novorossiysk, which sparked significant interest and concern.

Subsequently, the commander of the Drone Forces, Robert Brovdi, confirmed that the attack also hit the Russian frigate Admiral Makarov. This indicates that the strikes were aimed not only at oil infrastructure but also at military facilities in Russia.

Later, the General Staff of the Armed Forces of Ukraine confirmed that Ukrainian Defense Forces successfully struck the Sheskharis oil terminal in Novorossiysk, resulting in a large-scale fire at the terminal site. According to sources close to the Security Service of Ukraine, the strike damaged six out of seven oil loading stands used for loading and unloading oil from tankers.

Furthermore, hits on the terminal's ground infrastructure were recorded, including damage to a key section of the pipeline system and an oil accounting unit. Massive fires broke out at the impact sites, complicating the situation at the terminal and potentially leading to long-term consequences for Russian oil exports.