Recent Ukrainian drone strikes targeting Russia’s key oil export terminals in the Baltic Sea—Ust-Luga and Primorsk—have resulted in an estimated $970 million (€842 million) in lost revenue for Russian energy exporters during the week of March 23–29, according to the Financial Times.
The British newspaper reports that the Primorsk and Ust-Luga terminals account for more than 40 percent of Russia’s seaborne crude oil export capacity, making them critical infrastructure for the country’s energy sector.
“Attacks at Primorsk alone destroyed oil worth approximately $200 million,” the Financial Times noted, citing an unnamed Western security official.
The strikes have reportedly disrupted Russia’s ability to capitalize on rising global oil prices, which have been driven higher by the ongoing conflict in the Middle East. They also highlight vulnerabilities in Russia’s air defense systems against drone attacks.
According to Vladimir Nikitin, a crude oil analyst at Seal AI, operations at the affected terminals could resume within days, though not at full capacity. Damaged storage tanks may take several months to rebuild without significantly affecting overall export flows.
Nikitin added that repairs to processing lines at the Ust-Luga terminal, operated by Novatek, could take more than a month to complete.
