On September 12, the Security Service of Ukraine carried out a large-scale drone attack on the Russian port of Primorsk in the Leningrad region, which is the largest oil terminal of Russia on the Baltic Sea. As a result of the strike, two tankers - Kusto and Cai Yun, which belong to the so-called 'shadow fleet' and are registered under the flag of the Seychelles, were damaged.
According to the SBU, fires broke out in the port on one of the vessels and at a pumping station, leading to a complete halt of oil unloading. The Ukrainian special service emphasized that Russia's daily budget losses due to the suspension of exports could reach $41 million. Experts estimate the total turnover of Primorsk to be about $100 million per day, so even a short interruption in the port's operations creates significant economic problems for Moscow.
Attempt by the Ukrainian side to harm the Russian economy
Primorsk is a key hub for the 'shadow fleet' through which Russia circumvents international sanctions and sells oil on global markets. Annually, about 60 million tons of oil pass through this port, providing the Kremlin with approximately $15 billion in revenue.
Reuters notes that Russian oil exports are already limited, as the Ust-Luga port has been operating at half capacity since a previous drone strike in August. Despite this, Moscow raised the September plan for crude oil exports from western ports to 2.1 million barrels per day, which is 11% more than initial estimates.
The event that occurred at the Russian port of Primorsk indicates serious attempts by Ukraine to damage the Russian economy by attacking key facilities that provide huge income for the country. Gaining control over the 'shadow fleet' of the Russian authorities could have far-reaching consequences for Russia’s economy, forcing it to seek alternative routes for oil and gas exports.