Russia’s Key Baltic Port Resumes Crude Loading After Attacks
(Bloomberg) -- Russia’s key Baltic port of Ust-Luga resumed crude loading after days of disruptions amid multiple Ukrainian drone attacks in the region.
The Jewel, an Aframax-class vessel, started a cargo loading on Saturday, according to shipping information seen by Bloomberg News.
Loadings at 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.
Russia’s oil-pipeline operator Transneft didn’t immediately respond to a request for a comment outside normal business hours.
Ukraine continues its attacks on Russia’s Baltic oil infrastructure, with facilities damaged in the port of Primorsk earlier on Sunday. Ukraine’s moves are aimed at curbing Russian export revenue at a time when global energy prices have rallied because of the war in the Middle East.
Still, 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.
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