Key facts
- Kazakhstan has suspended crude oil exports via the Caspian Pipeline Consortium (CPC) terminal on Russia's Black Sea coast.
- The halt follows drone attacks on two oil tankers, the ASIA and NISSOS IOS, near the terminal.
- The CPC terminal is the primary export route for Kazakh oil, handling approximately 1.6 million barrels per day.
- CPC confirmed oil loading operations were suspended and that no oil spill or ignition occurred.
- Russia accused Ukraine of orchestrating the attacks to destabilize global oil markets.
- Greece has advised Greek-flagged ships to increase security measures in the Black Sea.
Kazakhstan has confirmed a halt to crude oil transfers via the Caspian Pipeline Consortium (CPC) terminal on Russia's Black Sea coast, following drone attacks on oil tankers that have escalated risks in the region. The suspension, set to begin Tuesday, jeopardizes the landlocked Asian country's ability to produce and export oil.
The CPC terminal, located near the Russian port of Novorossiysk, is the primary export route for Kazakh oil, handling approximately 1.6 million barrels per day out of a total of 2.1 million barrels per day in Kazakh exports. CPC clarified that no oil spill occurred and no ignition was allowed in the cargo tanks, and the tankers remained afloat.
Russia has accused Ukraine of orchestrating these attacks as part of a broader strategy to destabilize global oil markets. Kazakhstan's foreign ministry expressed outrage, condemning the attack and reserving its rights to seek full compensation for damages.
Greece has advised Greek-flagged commercial ships to upgrade security measures when sailing in the Black Sea following a string of attacks on tankers. Greek-operated ships are among the world's largest fleets of tankers and are pivotal for trade across the Black Sea region. In recent weeks, Ukraine and Russia have stepped up attacks on vessels and other facilities in the Black Sea and the Sea of Azov. On Sunday, a Russian missile struck a ship carrying corn near Ukraine's southern port of Odesa, killing 10 people. The ASIA and NISSOS IOS tankers were attacked with sea drones on Sunday at the CPC terminal.