Ukraine Halts Russian Oil Loadings at Primorsk Terminal

Ukraine has significantly escalated its drone campaign targeting Russia's oil infrastructure, striking refineries and export terminals to undermine Moscow's military fuel supplies and cut vital petroleum revenues. The most notable recent attack forced the first-ever suspension of oil loadings at Primorsk, Russia's largest western oil port near St. Petersburg, where fires broke out on two large tankers, Kusto and Cai Yun. Ukrainian authorities claim the strikes aim to pressure Russia towards peace talks by disrupting its primary wartime revenue source, while Russian officials acknowledge the attacks but downplay operational impacts. These assaults have contributed to rising gasoline prices and supply shortages creeping closer to Moscow, signaling a growing strain on Russia's domestic fuel market. The drone strikes have also influenced global oil prices, which rose nearly 2% following the Primorsk suspension despite concerns over oversupply and weaker demand. This campaign highlights Ukraine's expanding capability to affect Russia's economy beyond the battlefield and complicates energy security considerations for global markets.