Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Finance > Ukraine hits two Russian 'shadow fleet' oil tankers with naval drones
    Finance

    Ukraine hits two Russian 'shadow fleet' oil tankers with naval drones

    Ukraine hits two Russian 'shadow fleet' oil tankers with naval drones

    Published by Global Banking and Finance Review

    Posted on November 29, 2025

    Featured image for article about Finance

    By Tom Balmforth and Max Hunder

    KYIV, Nov 29 (Reuters) - Ukrainian naval drones hit two sanctioned tankers in the Black Sea as they headed to a Russian port to load up with oil destined for foreign markets, an official said on Saturday, as Kyiv tries to pile pressure on Russia's vast oil industry.

    The two oil tankers, identified as the Kairos and Virat, were empty and sailing to Novorossiysk, a major Russian Black Sea oil terminal, the official at the Security Service of Ukraine told Reuters.

    Naval drones could be seen speeding towards hulking tankers followed by powerful explosions that caused fires on the vessels, video footage shared by the official showed.

    Reuters could not independently verify the identity of the tankers in the clips or the location and date of the footage.

    "Video shows that after being hit, both tankers sustained critical damage and were effectively taken out of service. This will deal a significant blow to Russian oil transportation," the official said in a written statement.

    Ukraine has been attacking Russian oil refineries for months, using long-range aerial drones to strike far behind the front lines of Moscow's full-scale war against Ukraine. The strikes on the tankers represent a different kind of attack.

    Kyiv has repeatedly called on the West to take real action against Russia's so-called "shadow fleet", which the Ukrainian government says is helping Moscow export large quantities of oil and fund its war in Ukraine despite Western sanctions.

    The fleet of hundreds of often ageing, unregulated vessels came to prominence after Russia's invasion of Ukraine, bypassing Western sanctions aimed at reducing Moscow's oil revenue.

    Separately, the Caspian Pipeline Consortium, which handles more than 1% of global oil, said on Saturday it halted operations after a mooring at Russia's Black Sea terminal was significantly damaged by a Ukrainian naval drone attack.

    CPC exports mainly from Kazakhstan via Russia and the Black Sea terminal. Kazakhstan called the attack unacceptable.

    SHIPS ARE ON SANCTIONS LIST

    Naval drones are uncrewed speed boats packed with explosives that sail towards their targets before detonating. They played a prominent role in Ukraine's counteroffensive in the Black Sea, helping to push back Russia's large fleet of warships.

    The 274-meter-long tanker Kairos suffered an explosion and caught fire on Friday while en route from Egypt to Russia, Turkey's Transport Ministry said. The crew was evacuated by rescue boats while efforts to extinguish the fire continued, it said.

    The Virat was reportedly struck some 35 nautical miles offshore, further east in the Black Sea, the ministry said. That ship was attacked again on Saturday by unmanned vessels, sustaining minor damage to its starboard side above the waterline, the ministry added. It said the vessel was in stable condition and the crew in good health.

    Both the Kairos and Virat are on a list of ships subject to sanctions imposed against Russia following its full-scale invasion of Ukraine in 2022, according to LSEG data.

    Turkey voiced concern over the attacks, saying the incidents took place in its Exclusive Economic Zone and posed serious safety risks.

    Ankara is in contact with relevant parties to prevent the war from spreading in the Black Sea and to protect the country's economic interests and operations in the region, Turkish Foreign Ministry spokesperson Oncu Keceli said in a post on X.

    The Ukrainian official did not say when the Ukrainian strikes took place. 

    There was no public comment from Russia.

    (Reporting by Tom Balmforth, Max Hunder and Tuvan Gumrukcu; Editing by Toby Chopra, Kirsten Donovan and Paul Simao)

    Related Posts
    Analysis-Consumer goods firms cut CEO tenures short in push for growth
    Analysis-Consumer goods firms cut CEO tenures short in push for growth
    BAE Systems halves stake in Kazakh carrier Air Astana
    BAE Systems halves stake in Kazakh carrier Air Astana
    Tesla ramps up battery cell investments at German gigafactory
    Tesla ramps up battery cell investments at German gigafactory
    Stellantis says EU proposals fall short on auto industry's energy transition needs
    Stellantis says EU proposals fall short on auto industry's energy transition needs
    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion
    OpenAI taps former UK finance minister Osborne to lead global Stargate expansion
    US threatens countermeasures after EU fine on Musk's X
    US threatens countermeasures after EU fine on Musk's X
    EU drops 2035 combustion engine ban as global EV shift faces reset
    EU drops 2035 combustion engine ban as global EV shift faces reset
    Volkswagen welcomes EU move to drop combustion engine ban
    Volkswagen welcomes EU move to drop combustion engine ban
    Incoming Kraft Heinz CEO says he reserves right to improve split
    Incoming Kraft Heinz CEO says he reserves right to improve split
    FCAS fighter jet "very unlikely" after ministers' talks, source says
    FCAS fighter jet "very unlikely" after ministers' talks, source says
    Campari's parent company settles tax dispute with 405 million euro payment
    Campari's parent company settles tax dispute with 405 million euro payment
    Universal offers to sell Downtown's Curve to win EU approval, source says
    Universal offers to sell Downtown's Curve to win EU approval, source says

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    Previous Finance PostTrump says Venezuelan airspace should be considered closed
    Next Finance PostFire at Russia's Afipsky oil refinery extinguished after drone attack, authorities say

    More from Finance

    Explore more articles in the Finance category

    Reactions to European Commission proposal to reverse 2035 combustion engine ban

    Reactions to European Commission proposal to reverse 2035 combustion engine ban

    Italy's offshore wind push languishes, putting climate goals at risk

    Italy's offshore wind push languishes, putting climate goals at risk

    New Rome metro stations showcase ancient treasures after years of delays

    New Rome metro stations showcase ancient treasures after years of delays

    Exclusive-California Pizza Kitchen reaches buyout deal, names new leadership

    Exclusive-California Pizza Kitchen reaches buyout deal, names new leadership

    Greeks protest against low wages ahead of 2026 budget vote

    Greeks protest against low wages ahead of 2026 budget vote

    AI boom seen lifting chipmaking equipment sales 9% to $126 billion in 2026

    AI boom seen lifting chipmaking equipment sales 9% to $126 billion in 2026

    New Czech government signals tough stance on migration, EU emissions rules

    New Czech government signals tough stance on migration, EU emissions rules

    Exclusive-Swiss firm Barry Callebaut eyes separating cocoa division amid price volatility, sources say

    Exclusive-Swiss firm Barry Callebaut eyes separating cocoa division amid price volatility, sources say

    Zaporizhzhia nuclear plant running on single power line, Russia says

    Zaporizhzhia nuclear plant running on single power line, Russia says

    EU talks to fund Ukraine with Russian assets make progress, key decisions seen Thursday

    EU talks to fund Ukraine with Russian assets make progress, key decisions seen Thursday

    Shell greenlights US Gulf waterflood project to boost oil recovery

    Shell greenlights US Gulf waterflood project to boost oil recovery

    Saudi firm Midad among frontrunners to buy Lukoil's global assets, sources say

    Saudi firm Midad among frontrunners to buy Lukoil's global assets, sources say

    View All Finance Posts