Finance

Blaze at Russia's Baltic Sea port of Ust-Luga after major Ukrainian drone attack

Published by Global Banking & Finance Review

Posted on March 25, 2026

3 min read

· Last updated: April 1, 2026

Add as preferred source on Google
MeridianLink financial software firm announcement of $2 billion acquisition by Centerbridge - Global Banking & Finance Review
Featured image depicting the MeridianLink logo, highlighting the company's acquisition by Centerbridge Partners for $2 billion. This deal signifies a growing trend in private equity buyouts within the finance sector.
Global Banking & Finance Awards 2026 — Call for Entries

MOSCOW, March 25 - A fire broke out at Russia's Baltic Sea port of Ust-Luga, a major oil export hub, after a major Ukrainian drone attack, Russian officials said on Wednesday. Ukraine has stepped up

Russia's Baltic ports halt oil loadings after heavy Ukrainian drone attack, sources say

Impact and Details of the Drone Attacks on Russian Baltic Ports

March 25 (Reuters) - Russia's Baltic ports of Primorsk and Ust-Luga, major export terminals, suspended crude oil and oil products loadings on Wednesday, two sources told Reuters, after massive Ukrainian drone attacks sparked blazes, with smoke visible from Finland. 

The drone attacks on the Baltic ports amount to one of the largest strikes to date against Russia's oil export facilities in the four-year war, and are likely to add to uncertainty on the global oil markets caused by the conflict in the Middle East.

Regional Impact and International Response

At around the same time that Ust-Luga was hit early on Wednesday, two stray Ukrainian drones landed in neighbouring Latvia and Estonia, including one that hit an Estonian power station without causing damage.

Smoke Seen from Finland

Russian officials said fire had broken out at Ust-Luga after a Ukrainian drone attack. Primorsk, across the Gulf of Finland to the north of Ust-Luga, has also been attacked in recent days.

A source who spoke on condition of anonymity told Reuters that Ust-Luga had been sealed off and that reservoirs were ablaze. No casualties were reported.

Huge plumes of black smoke billowed far into the sky on Wednesday, according to unverified videos posted on Telegram.

Gulf of Finland Coast Guard District director Jukka-Pekka Lumilahti told Reuters that the Primorsk fire had not been fully extinguished.

"It is still burning there pretty much just as it was at the start," he said. "These are indeed massive fires, and there is a massive amount of smoke."

He also said there was currently no oil leakage from the attacks.

Heikki Autto, a member of the Finnish Parliament and chairman of its defence committee, told Reuters he saw a massive pillar of black smoke rise from the direction of Primorsk port as he landed at the Helsinki Airport in Finland on Tuesday.

"It is dramatic that the hostilities come so close, even if Finland's own security situation has not changed," he said, adding that the European Union should have inflicted stricter sanctions to stop Russian oil exports without Ukrainian drones doing it.

Ukraine's Strategy and Economic Impact

Ukraine Tries to Weaken Russia's Economy

Ukraine has stepped up drone attacks on Russian oil refineries and export routes over recent weeks in an attempt to weaken Russia's war economy and as the peace talks, brokered by Washington, have stalled.

Ukraine's SBU security service said its drones "successfully struck their targets" in Ust-Luga.

Damage to Oil Infrastructure

"The attack damaged oil loading stands as well as a tank park containing crude oil and petroleum products," it said, adding that such strikes served to reduce foreign currency revenues to the Russian Federation's budget.

Ust-Luga and Primorsk were also forced to suspend exports of oil and crude several days ago after drone attacks but they had tentatively restarted loadings on Monday, Reuters reported.

Primorsk, which is able to export more than 1 million barrels of crude oil per day, is a major outlet for Russia's flagship Urals crude and high-quality diesel.

According to sources, Ust-Luga exported 32.9 million metric tons of oil products last year, and Primorsk 16.8 million tons.

Russian Response and Ongoing Security Concerns

Russia's defence ministry said that 389 Ukrainian drones had been shot down across Russia overnight, including over the Moscow region. 

(Reporting by Reuters; additional reporting by Anne Kauranen in Helsinki and Yuliia Dysa in Kyiv; Editing by Guy Faulconbridge, William Maclean and Aidan Lewis)

Key Takeaways

  • A large fire broke out at Ust‑Luga port after a Ukrainian drone strike, forcing a temporary halt to oil exports — a key blow to Russia’s Baltic energy route (reddit.com).
  • Ukraine has recently intensified drone attacks on major Russian oil export hubs, including Ust‑Luga and Primorsk, aiming to disrupt Moscow’s revenue from energy exports (worldports.org).
  • The strategic importance of Ust‑Luga lies in its role as a major gateway for maritime oil and gas exports; prior strikes in 2025 already forced partial shutdowns at the Novatek complex there (euromaidanpress.com)

References

Frequently Asked Questions

What caused the fire at the Ust-Luga port?
The fire was caused by a Ukrainian drone attack on the Ust-Luga oil export hub.
Were there any casualties reported after the Ust-Luga port fire?
No casualties were reported after the fire at the Ust-Luga port.
How has the attack affected oil exports from Ust-Luga and Primorsk?
Following the drone attacks, both ports were forced to suspend oil and crude exports but resumed loadings the next day.
How many Ukrainian drones were shot down across Russia during the attack?
Russia's defence ministry stated that 389 Ukrainian drones were shot down overnight across the country.
Is the extent of the damage at the Ust-Luga port known?
The extent of the damage to the port was not immediately clear after the incident.

Tags

Related Articles

More from Finance

Explore more articles in the Finance category