Russian oil producers warn of force majeure following drone strikes on Baltic ports

Mar 27, 2026, 1:21:05 PM UTC(9 hours ago)

Impact: Very High

Affected Assets

Major export hubs at Primorsk and Ust-Luga suspended operations after a third consecutive night of Ukrainian drone attacks damaged fuel reservoirs and loading piers
Industry analysts report that approximately 40 percent of Russia's total oil export capacity has been halted due to the combined impact of strikes and infrastructure damage
Satellite imagery confirmed active fires at the Primorsk terminal which typically handles 700,000 barrels of oil per day and 60 million tons annually
Damage reports from Ust-Luga include three impacted oil tankers and five fuel tanks along with significant damage to Novatek installations and berths
Market experts describe the current situation as the most severe oil supply disruption in modern Russian history with daily revenue losses estimated at 2 million barrels

RUSSIAN OIL PRODUCERS WARN BUYERS ABOUT POSSIBLE FORCE MAJEURE ON OIL SUPPLIES AS BALTIC PORTS FACE DRONE ATTACKS, SOURCES SAY