Published by Global Banking and Finance Review
Posted on November 14, 2025
1 min readLast updated: January 21, 2026
Novorossiysk port in Russia halts oil exports after a Ukrainian drone attack damages infrastructure. Transneft suspends crude supplies to the port.
MOSCOW (Reuters) -Russia's Black Sea port of Novorossiysk halted oil exports on Friday after a Ukrainian drone attack, and oil pipeline monopoly Transneft suspended crude supplies to the outlet, two industry sources told Reuters.
Transneft declined to comment.
Earlier on Friday, local government officials said Ukrainian drones had damaged a docked ship, apartment buildings and an oil depot in Novorossiysk, a key outlet for Russian oil exports.
(Reporting by ReutersEditing by Andrew Osborn)
Oil export refers to the selling and transportation of crude oil from one country to another for refining and consumption.
A drone attack involves the use of unmanned aerial vehicles (UAVs) to strike targets, often used in military operations.
Transneft is a Russian state-owned company responsible for the transportation of oil and oil products through pipelines.
Suspension of oil supply can lead to increased prices, affect global oil markets, and impact countries reliant on that oil.
Novorossiysk Port is a key outlet for Russian oil exports, playing a crucial role in the country's energy trade.
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