North Asia

Three sources familiar with the matter confirmed that the suspension of crude oil exports was due to a drone attack on Friday. This added to the disruptions at one of the country's main export outlets. Sheskharis, Russia's largest oil export facility in the Black Sea, handles approximately 700,000 barrels of crude oil per day. The shutdown of the Sheskharis terminal adds pressure to Russia's energy infrastructure, which has been repeatedly attacked in recent months. On Friday, the administration of Novorossiysk sent out a new drone alert to residents. This indicates that there is a continuing threat in the port area....

According to traders and LSEG shipping data, Turkey cut oil purchases in Russian ports by 30% in July. It is expected to further reduce them in August as a result of Ukrainian drone attacks that disrupted the exports to Russia's Black Sea Terminals. In July, Ukraine intensified its attacks on?Russia?s Black Sea Terminal. This led to an export suspension of one week from the CPC terminal as well as unstable loadings at Novorossiysk. Caspian Pipeline Consortium oil loadings were reduced by 5 percent in July. Turkey condemned attacks on Russian-linked tankers that were?close to the waters of its Black Sea....

Three industry sources have confirmed that a drone attack on August 14 'damaged' the complex for processing gas condensate at the Baltic port of Ust-Luga, owned by Russian gas producer Novatek. Novatek didn't respond to an immediate?request for comments. Two sources confirmed that the drone attack had no impact on oil export operations at the terminal in?Ust-Luga. Ust-Luga, one of Russia's most important?oil-export terminals, loads about 700,000 barrels?of crude per day. Alexander Drozdenko, the Leningrad Region Governor, said earlier on Friday that a drone had caused a fire in the Ust-Luga Port. Drone attacks have repeatedly targeted Ust-Luga’s port infrastructure...

The Russian authorities quickly cleaned up the damage caused by an attack from a Ukrainian drone that sparked a fire in Ust-Luga on Friday, a major hub for oil exports. Ukraine has struck targets in Russia, including ports, refineries, and commercial warehouses in an effort to raise the cost for Moscow to continue the full-scale conflict it launched in 2022. Drozdenko wrote on the Russian messaging service MAX that "all the consequences of the attack at the port of Ust-Luga?have been cleared." "There were not any casualties." He did not provide any further information. Drozdenko had earlier claimed that more...

Source: Ukraine has sent Russia a proposal suggesting that 'both parties' halt their attacks on civilian targets in the Black Sea. The strikes on ships and ports have raised concerns about global food supplies. Source familiar with the issue said that Kyiv had sent the offer of suspension via a third-party, but Ukraine is still waiting for the response. Both Russia and Ukraine, two major players on the world agricultural market, have accused one another of intensifying attacks on vessels used to export. EU WHEAT PARE GAINS AFTER RESULTS Kyiv was forced to find alternative routes for grain exports after...

Sources say that Ukraine sent Russia an offer to both countries asking them to stop attacking civilian targets on the Black Sea. Both countries have been warning about threats to food supplies worldwide after weeks of intense strikes against vessels and ports. Sources familiar with the matter said that Kyiv had sent the offer of suspension via a third-party, but Ukraine is still waiting for their response. Both Russia and Ukraine - major players in the global agriculture market - have accused each of intensifying their targeting of agricultural export vessels. Kyiv was forced to find alternative shipping routes when...

Delo Group, the owner of Russia's KSK grain terminal in the Black Sea port of Novorossiysk, announced on Thursday that it had suspended operations. The decision was taken to ensure the safety of staff and infrastructure, it stated. Ukraine attacked?Novorossiysk ports in a massive drone attack on Wednesday. Two other major grain terminals were?put out of service. Russian Railways, the monopoly railway company in Russia, announced on Thursday that it had limited the loading of cargoes bound for the port of Novorossiysk. According to a document reviewed by the. Novorossiysk’s 'grain' terminals, with a combined capacity of more than?20 millions...

Oil prices eased Thursday, after a week of gains, as the focus shifted to the 'expected' lowering of global oil demand in this year. Meanwhile, there were no signs of progress towards opening up of the Strait of Hormuz. Brent futures fell 42 cents or 0.47% to $88.56 per barrel at 0405 GMT. U.S., erasing gains over the six previous sessions. West Texas Intermediate crude (WTI), which had been rising over the previous five sessions, fell by 55 cents or 0.66% to $82.72. On?Wednesday, a senior Iranian source stated that there was no progress made in the talks to revive...

Chicago wheat futures rose around 3% Wednesday, after Ukraine attacked grain terminals at the main Russian wheat exporting port of Novorossiysk. This sparked fears that supplies would be disrupted to global markets. Soybeans, corn and other grains rose in advance of a U.S. Agriculture report on world supply/demand later Wednesday. Chicago Board of Trade?most active wheat increased 3.05% at $9.49-1/2 per bushel by 0929 GMT. Soybeans increased 0.3% to $11.73-1/4 bushels, while corn rose by 0.7% to $4.63-3/4 bushels. Industry sources said that two of Russia's largest grain terminals at the Black Sea port Novorossiysk have suspended operations as a...

The U.N. shipping agency reported on Wednesday that oil from a large slick of oil leaking from the tanker Caroline 'Bezengi has reached 'Oman's' mainland. Oil is drifting off to the northeast (of Oman's Al-Qibliyyah Island), with reports that some oil has reached the mainland. A spokesperson for the IMO said that oil spill contingency planning is already in place. The government of 'Oman said that the slick from a nature preserve in the country has covered 'almost 400 square kilometers. The tanker, which was carrying 800,000 barrels from Russia to Asia, grounded on the coast of Oman around 22...

The Russian state news agency TASS reported that Vladimir 'Putin' said on Wednesday, Russia would respond in kind if a?European country seizes?ussian mercantile vessels. The remarks come at a time when the EU is intensifying pressure on Russia's shadow fleet. It has expanded sanctions against hundreds vessels and detained some ships for inspections. Several European governments have stated that they are exploring tougher enforcement measures against ships suspected of evading sanctions. Putin was quoted by TASS as saying that these measures were nothing less than piracy and robbery. If?this is put into practice, then we will have to retaliate in...

Four industry sources said that two of Russia's largest grain terminals in the southern port of Novorossiysk had suspended operations due to overnight Ukrainian drone attacks. Russia is the largest wheat exporter in the world and most of its exports are shipped through its Black Sea ports, like Novorossiysk. Russia's largest grain lobby warned last month about the possibility of Ukrainian drone attacks shutting down?grain imports via the Black Sea, which would cause prices to rise and hunger in Africa and the Middle East. A source in the industry, who did not want to be identified due to the sensitive...

On Tuesday, Latvia announced that a tunnel was discovered 'under the border of Belarus. It also announced plans to combat the networks which it claims are helping an increasing number of migrants cross the border 'illegally. Last month, Latvian soldiers fired a warning shot and used teargas to deter migrants from entering the country through Belarus. Belarus shares a 173 km (107 mile) border with Latvia. Interior Minister Janis Dombrava said at a press conference held jointly with Prime Minister Andris Kubergs that "the protection of Latvia's east border will be enhanced, through closer cooperation between Border Guard, State Police...

Alexander Gusev said that a drone attack killed a person and injured two others overnight in the Voronezh region of 'Russia. Gusev, a Telegram user, said that Russia's air defense units destroyed 15 drones in the area of Voronezh. "A drone crashed caused fires in two warehouses of a large company. The fire at one warehouse has been contained within an area of 16 square meters. At the other, a fire covering 20,000 square metres is currently being put out. "Emergency Services are on the scene," said?the governor. He didn't identify the company that was affected. On?Tuesday?, Russian online retailer...

According to a Monday letter published by the 'Russian Central Bank,' creditors are advised to assist businesses that have been affected by Ukrainian drone attacks on warehousing and logistics centres. Ukraine has?attacked at least 20 warehouses owned by Russian ecommerce retailer Wildberries since July 18. In a letter, the regulator stated that "small and medium-sized businesses who have suffered due to terrorist attacks on warehouses, manufacturing plants, retail, offices, and other premises can apply for restructured loans." Sberbank, VTB and Wildberries Bank, which is owned by the retailer, have all announced that they are ready to help?businesses. Sergei Melamed, senior...

Azerbaijan's government expects the freight volume along the "Middle Corridor", a trade route, to rise 17% this year to 5.5 million tons before rising to 7 million tons in 2027. The Trans-Caspian International Transport Route, also known by the name of the corridor, connects China to European countries via Kazakhstan and Azerbaijan. It also passes through Georgia, Turkey, and Georgia. Containers containing clothing, electronics, and other consumer products, as well grain, coal, ore and fertilisers are transported along this route. The corridor, with its annual capacity of over 15 million tons is still a tiny part of the rail traffic...

Volodymyr Zelenskiy, Ukrainian president, said that the U.S. aerospace company Raytheon expressed interest in a joint production of Patriot interceptors. Kyiv is seeking to strengthen air defences as it tries to counter escalating Russian missile attacks. Zelenskiy said on X that he was grateful for the willingness of the company to take our partnership to a?higher level. This would allow Ukraine to co-produce with RTX some of the most important air defense assets –?Patriot interceptors. Ukraine has?asked for help? from its Western partners to build up interceptors that can down Russian ballistic rockets. It also sought agreement on securing an...

The Ukrainian steelmakers union UkrMetalurgProm warned on Tuesday that a proposed freight tariff hike by the'state railway' of Ukraine could lead to a reduction in GDP, permanent closure of certain facilities, and the loss of 300,000 jobs. Oleksandr P.rtsovskyi, CEO of Ukrzaliznytsia, said earlier in the month that his company intended to increase freight rates by at least 45 percent. The increase would reduce losses and help restructure the company's significant debt. Oleksandr Kalenko, president of the union, wrote a letter commenting on Ukrzaliznytsia’s statements. He said that Ukraine’s steel industry had suffered losses totaling 28?billion Hryvnias (about $632 million),...

Data from the London Metal Exchange showed that in January, the share of China-made metal in available London Metal Exchange stock fell as metals from other Asian nations, South America, and?Africa flooded in. Available copper inventories The?LME?is at its highest level since late February 2025, as it has become the preferred place for traders to store metals in the U.S.A. and Asia. Data showed that the percentage of copper stocks of Chinese origin in LME's warehouses - those on warrant or available - was 70% at the end last month. This is down from 79% in December. A LME warrant...

Data from the London Metal Exchange showed that the share of China-made Copper among the available London Metal Exchange stock fell in December. This was due to the outflows?of the inventory in the LME registered?warehouses?in Asia. The percentage of copper stocks that are available - or those on warrant The data revealed that 79% of the - in LME's warehouses were of Chinese origin at the end last month. This was down from 85%?in November. A LME warrant is an ownership document. The absolute number of Chinese copper stock on the LME dropped to 87,475 tons by the end last...

Data from the London Metal Exchange showed that, in November, the share of copper made in China among all available stocks increased. A favorable price arbitrage encouraged Chinese exports. The percentage of copper stock that is available or on a warrant The data revealed that the percentage of - of Chinese Origin in LME Warehouses had increased to 85% by the end of the last month from 82% at the beginning of October. A LME warrant is an ownership document. The absolute amount of Chinese copper stocks on the LME rose to 130,225 tonnes at the end last month from...

Data released on Monday showed that the cargo volumes handled by Russia's largest commercial employer, state-owned Russian Railways, continued to decline in November. Russian Railways released a statement saying that November cargo volumes fell by 1.5% on an annual basis to 94.2 millions tonnes. Volumes from January to November also dropped by 5.6%, to 1.021 billion tonnes. The Russian government is examining different options to support Russian Railways. It has accumulated a debt of 4 trillion roubles ($50,8 billion). The railway cargo volume, a key economic indicator of the strength of Russia's export economy, fell to its lowest level in...

VTB CEO Andrei Kostin said in an interview that Russian banks were willing to restructure some Russian Railways' debt, as long as their central bank did not increase the reserve requirements on these loans. The Russian government is examining different options to support Russian Railways. This company, the largest commercial employer in Russia, has accumulated a debt of 4 trillion roubles ($50.8 billion), according to a report on Nov. 25, VTB is the second largest Russian bank and Russian Railways' largest creditor. The bank's top managers participate in weekly government discussions on how to handle the debt. These meetings are...

VTB CEO Andrei Kostin said in an interview that Russian banks were willing to restructure Russian Railways' debt, as long as their central bank did not increase the reserve requirements on these loans. The Russian government is examining different options to support Russian Railways. This company, which is the largest employer in the country, has accumulated a debt of 4 trillion roubles ($50.8 billion), according to a report on Nov. 25, VTB is the second largest Russian bank and Russian Railways' largest creditor. The bank's top managers participate in weekly government discussions on how to handle the debt. These meetings...