Headlines
Escalating Russian airstrikes aim to cut Ukraine off from sea, Zelenskiy says
Published by Global Banking and Finance Review
Posted on December 20, 2025
3 min readLast updated: January 20, 2026
Global Banking and Finance Review
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Published by Global Banking and Finance Review
Posted on December 20, 2025
3 min readLast updated: January 20, 2026
Russia escalates airstrikes on Ukraine's Odesa region, aiming to cut off access to the Black Sea. Key ports and infrastructure are targeted, impacting fuel supplies.
By Yuliia Dysa
KYIV, Dec 20 (Reuters) - Russia is trying to sever Ukraine's access to the Black Sea, President Volodymyr Zelenskiy said on Saturday, following days of ramped-up airstrikes on ports and energy facilities in the Odesa region and a critical route to the Moldova border.
Russia has unleashed an almost continuous drone and missile campaign against a region where ports key to Ukraine's foreign trade and fuel supplies operate, after Moscow threatened to cut "Ukraine off from the sea".
Strikes have escalated even as the U.S. pursues an uphill diplomatic drive to coax a deal to end the war. Ukraine held talks with the U.S. team on Friday, and American negotiators were set to meet Russian officials in Florida on Saturday.
"The situation in the Odesa region is harsh due to Russian strikes on port infrastructure and logistics. Russia is once again trying to restrict Ukraine's access to the sea and block our coastal regions," Zelenskiy told reporters in Kyiv.
Russia's aim is "to sow chaos, to exert moral pressure during winter... so that there is no fuel, no food supplies, so that there are problems with medical supplies," he said.
Russia's attack on Pivdennyi port on Saturday hit reservoirs, Ukrainian Deputy Prime Minister Oleksiy Kuleba said on the Telegram messaging app, a day after a missile strike on the port killed eight people and injured at least 30.
Geneva-based vegetable oil producer Allseeds said three tanks storing sunflower oil at the site were set ablaze in Pivdennyi, and one of its workers was killed and two injured.
Russia's Defence Ministry was not available for immediate comment. The Kremlin has said Ukraine's economic infrastructure is a legitimate military target in the almost four-year-old full-out war.
FOCUS ON ODESA
Since Thursday, Russian forces have hit a bridge on the Dniester River near the village of Mayaky, southwest of Pivdennyi, at least five times, Kuleba told reporters.
The bridge, which connects parts of the region divided by the river and sea inlets, is the main transport route westward to border crossings with Moldova, and is not operational now.
The route accounts for around 40% of fuel supplies to Ukraine, Kuleba said.
Ukrainian authorities have set up a pontoon bridge and re-routed logistics through other regions, securing civilian and freight logistics.
"The focus of the war may have shifted towards Odessa," Kuleba said, adding that the "crazy" attacks could escalate even further as Russia tries to undermine Ukraine's economy.
Last week, one of the war's biggest Russian air attacks on the Black Sea region damaged energy facilities and prompted a blackout in the biggest seaport Odesa, plunging hundreds of thousands of civilians into darkness for days.
Airstrikes on ports also damaged three Turkish-flagged vessels in December.
Russian President Vladimir Putin has vowed to cut Ukraine's access to the Black Sea in retaliation for Kyiv's recent drone strikes on Moscow's sanctions-busting "shadow-fleet" tankers.
Ukraine says those vessels are used to transport oil, Russia's main revenue source for funding its almost four-year-old full-scale invasion of its neighbour.
(Reporting by Yuliia Dysa, additional reporting Dave Graham; editing by Alison Williams, Mark Heinrich and Gareth Jones)
Economic infrastructure refers to the foundational systems and structures that support economic activities, including transportation, energy, and communication networks essential for trade and commerce.
Foreign currency is any currency that is not the domestic currency of a country. It is used in international trade and investment, allowing businesses to conduct transactions across borders.
A financial crisis is a situation in which the value of financial institutions or assets drops significantly, leading to a loss of confidence and potential economic downturn.
An international financial institution is an organization that provides financial support and advice for economic development and stability, such as the World Bank or International Monetary Fund.
The president plays a crucial role in shaping economic policy, making decisions that affect national economic strategies, and representing the country in international economic discussions.
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