Up to 40 percent of the oil export capacity of Russia has been taken offline following Ukrainian drone strikes, a disputed attack on a major pipeline, and seizures of tankers, according to Reuters calculations based on market data.
The disruption – estimated at around 2 million barrels per day – marks what analysts describe as the most severe hit to Russia’s oil supply chain in modern history.
It comes as global energy markets remain under pressure, with oil prices briefly rising above $100 per barrel amid the Iran-related conflict.
Loadings at Primorsk and Ust-Luga – Russia’s main Baltic export hubs – have been suspended again after recent drone strikes caused fires and infrastructure damage.
The Black Sea port of Novorossiysk is also operating below normal capacity following earlier attacks this month.
Exports through the Druzhba pipeline to Hungary and Slovakia have been largely halted since January after reported damage in Ukraine following Russian strikes.
In addition, repeated seizures of Russia-linked tankers in European waters have disrupted around 300,000 barrels per day of Arctic oil exports shipped from Murmansk, according to traders.
Oil exports are a core source of revenue for Russia’s federal budget and a key pillar of its roughly $2.6 trillion economy.
Moscow has described the Ukrainian strikes as “terrorist attacks” and says it is reinforcing security across its energy infrastructure.