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Russia's Oil Exports Hit by Drones and Winter Storms
4 Mar
Summary
- Ukrainian drone attacks halted oil loadings at Sheskharis terminal.
- Severe weather conditions hampered crude oil diversion to Baltic ports.
- Flows through the Druzhba pipeline to Hungary and Slovakia remain suspended.
Russia's crucial oil export infrastructure is facing significant disruptions, preventing the nation from benefiting from a recent surge in global crude prices. Ukrainian drone attacks and severe winter weather have sharply reduced the country's capacity to ship oil.
The Sheskharis oil terminal in Novorossiysk port suspended operations on March 3, 2026, after a drone attack caused a fuel terminal fire and damage. As of March 4, 2026, the terminal, which was set to load approximately 500,000 barrels per day, remained shut, with loadings potentially resuming around March 5-6.
Adding to these challenges, icy conditions are hampering export capabilities at the Baltic ports of Primorsk and Ust-Luga. Exporters have also been unable to divert more crude to these locations due to reduced loading capacity. Furthermore, the Druzhba pipeline, supplying Hungary and Slovakia, has had its flows halted, with both recipient countries blaming Ukraine and Kyiv suggesting Russian damage.
In contrast, Russian oil exports in the Far East, through Kozmino port, are performing strongly, with an expected loading of about 1 million barrels per day in March. However, this regional success does not offset the broader export limitations impacting the nation's revenue streams.
