Finnish Border Guard: Russia’s Baltic oil exports halted by drone strikes at key ports

Russia’s oil and liquefied natural gas shipments via its Baltic export hubs have come to a near standstill following a series of Ukrainian drone attacks, according to Finland’s Border Guard.

Export activity at the ports of Primorsk and Ust-Luga was effectively halted on April 1, more than a week after the attacks began, the agency said, citing monitoring of regional marine traffic, Caliber.Az reports via foreign media.

Smoke was visible from Finland after Ukrainian drone attacks caused fires at the Russian Baltic ports, prompting the suspension of fuel loadings on March 25. The attacks have continued, with Ust-Luga struck for a fifth time in 10 days on March 31.

"At the moment, very few tankers are departing from the oil ports of Primorsk and Ust-Luga. We are talking about individual vessels," Head of Maritime Safety and Security at the Finnish Border Guard Mikko Hirvi said.

The Baltic Sea corridor has traditionally been a major export route for Russian hydrocarbons, with an average of 40 to 50 tankers carrying oil and liquefied natural gas sailing each week in recent years.

The disruption marks what analysts describe as a significant interruption to Russian export logistics. The halt comes as broader pressure on energy infrastructure compounds existing constraints, including damage to pipeline systems and shifting global market dynamics.

Laura Solanko, Senior Adviser at Bank of Finland and a specialist in Russian energy markets, said pricing dynamics have further amplified the financial impact.

"If the discount has remained at a similar level, the export price of crude oil could be around $70–75 a barrel," she said, meaning Russia would be losing more than 70 million to 75 million dollars a day from the halt of Baltic Sea crude oil exports alone. That excluded oil products which sell at a higher price.

At the start of the year, crude from Primorsk traded at a discount of about $25 to the Brent benchmark, she added.

The disruptions have reduced Russia’s ability to capitalise on recent volatility in global oil markets, where supply concerns linked to geopolitical tensions have supported benchmark prices.

Before the drone strikes, Russia exported more than two million barrels a day of oil and refined products via the Baltic Sea, underscoring the strategic importance of the affected ports.

By Aghakazim Guliyev