Key facts
- Ukraine paused drone strikes on oil tankers and grain terminals at Russia's Novorossiysk port.
- The pause followed a request from U.S. Vice President JD Vance.
- Two major grain terminals in Novorossiysk suspended operations due to Ukrainian drone strikes.
- The strikes impacted oil loadings and Kazakhstan's production.
- Ukraine agreed to avoid targeting Caspian Pipeline Consortium (CPC) infrastructure or non-Russian vessels not carrying Russian oil.
Ukraine has paused drone strikes targeting oil tankers and grain terminals at Russia's Black Sea port of Novorossiysk, following a request from U.S. Vice President JD Vance. The U.S. administration had expressed concerns that Ukraine's attacks could destabilize oil and grain markets. Two of Russia's largest grain terminals, Novorossiysk and NKHP, suspended operations after sustaining damage from overnight Ukrainian drone strikes. The governor of Krasnodar region reported a "massive" wave of attacks that killed at least two people. As part of the agreement, Ukraine will refrain from targeting Caspian Pipeline Consortium (CPC) infrastructure or non-Russian vessels not carrying Russian oil. Major Western oil companies, including Chevron, ExxonMobil, Shell, and Eni, are involved in the CPC operations. The pipeline handles most of Kazakhstan’s crude exports, which fell sharply in July following the attacks. Kazakhstan is considering alternative routes for its oil exports.