Bloomberg: Russia's Largest Black Sea Oil Terminal Halts Operations

Russia's primary oil export terminal on the Black Sea, located in Novorossiysk, has ceased operations, according to Bloomberg. The official reason for the shutdown has not been disclosed, but experts believe it is a direct consequence of escalating Ukrainian drone attacks targeting vessels and port infrastructure in the region.

The terminal, which handles approximately 650,000 barrels of oil per day since the start of 2026, is a critical node for Russian oil exports. A prolonged halt in its operations could exacerbate pressure on the global oil market, which is already grappling with the repercussions of the conflict in the Middle East.

This development follows a series of Ukrainian drone strikes. On July 19, similar attacks disrupted oil loading operations at the nearby Caspian Pipeline Consortium (CPC) terminal. Russia had previously warned ships in its exclusive economic zone in the Black Sea about drone threats.

Earlier on July 23, the Novorossiysk municipality issued a warning about a planned test of the local alert system at the "Shesharis" oil export terminal, which would involve sirens. It remains unclear if this test is related to the operational halt. The terminal operator, Transneft, has not responded to Bloomberg's inquiries.