Market Flux Event
Ukraine launches largest-ever drone raid on St. Petersburg, hitting oil port, bridge and data center
Read this in the Market Flux appUkraine struck St. Petersburg overnight in what officials described as the largest drone attack yet on Russia's second city, setting ablaze one of Russia's biggest fuel storage and export facilities at the St. Petersburg oil port. Massive fires broke out at the terminal, which is a major source of export revenue for Moscow's war effort.
The raid involved at least three targets. Beyond the oil port, Ukrainian drones hit the bridge spanning the Korabelny Fairway, a key access route linking the port districts to the Ring Road and the federal highway network, and struck a VK data center near the city, compounding the economic and logistical damage.
The attack follows President Volodymyr Zelensky's announcement roughly two days earlier that Ukraine would resume major strikes on Russian energy infrastructure, after Moscow failed to uphold its side of a Trump-brokered energy ceasefire proposal. Zelensky declared the restrictions finished, saying the block on attacking refineries was lifted. Ukraine had previously suspended such strikes under pressure from Washington, where the Trump administration has sought to lower energy costs ahead of midterm elections.
Separately, U.S. Secretary of State Marco Rubio was scheduled to visit the Jamnagar refinery in India, the world's largest, owned by Mukesh Ambani's Reliance Industries, as U.S. diesel prices climbed ahead of the midterms. Analysts said the visit may signal a shift in U.S.-India energy ties. A maritime incident was also reported by UKMTO northeast of Khor Fakkan in the UAE, adding to regional tension in energy shipping lanes.
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Sources
- HormuzLetterBBREAKING: Ukraine has just struck the St. Petersburg oil port and set it ablaze, with massive fires rising, one of Russia's largest fuel storage and export facilities. Zelensky said two days ago that Ukraine will restart major strikes on Russian energy. "The block on attacking refineries is out. We're done."
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- CNBCU.S. Secretary of State Marco Rubio is set to visit the world’s largest oil refinery in Jamnagar, India, owned by billionaire Mukesh Ambani’s Reliance Industries, as diesel prices surge ahead of U.S. midterm polls. Here’s what experts say the Trump administration hopes to achieve with the visit:
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- FinancialjuiceUkmto reports incident northeast of Khor Fakkan, UAE