Ukraine Strikes Major Oil Terminal in Southern Russia
The Ukrainian military reported hitting the Sheskharis oil terminal in the port of Novorossiysk, a major hub for Russian oil exports, without directly referencing the CPC. The CPC handles roughly 1% of global oil supply and about 80% of Kazakhstan’s oil exports. Videos circulating on social media showed fires at the terminal, although these could n
ot be independently verified. Krasnodar Governor Veniamin Kondratyev confirmed residential buildings were damaged but did not confirm hits on the oil facilities. The Russian Defense Ministry accused Ukraine of attempting to destabilize global oil markets and cut supplies to Europe. CPC shareholders include U.S. oil majors Chevron and ExxonMobil. Ukraine has repeatedly targeted the CPC over the course of the war, including a naval drone strike last November. Recent attacks on Russian ports have forced temporary halts in oil shipments, causing Russia’s exports to drop by 43% in late March, Bloomberg reported. The Ukrainian military says the strikes are a justified response to Russian missile and drone attacks and aim to reduce Moscow’s energy revenues that fund the war.
