"Ust-Luga, a key oil-export outlet in Russia's west, stopped at the end of March as Ukraine stepped up attacks on energy infrastructure along the Baltic coast."
"Ukraine continues its attacks on Russia's Baltic oil infrastructure, with facilities damaged in the port of Primorsk earlier on Sunday."
"If Russia resumes stable crude flows from Ust-Luga, it could bring some relief to global markets rattled by Iran's chokehold on the Strait of Hormuz."
Ust-Luga, a crucial Baltic port for Russia, resumed crude oil loading after several days of interruptions caused by Ukrainian drone strikes. The Aframax-class vessel, The Jewel, began loading on Saturday. Loadings had previously halted in March due to increased Ukrainian attacks on energy infrastructure. Ukraine's ongoing assaults target Russian oil facilities to diminish export revenues amid rising global energy prices. If stable crude flows from Ust-Luga resume, it may alleviate market concerns linked to geopolitical tensions in the Middle East.
Read at Fortune
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