Mike Baker

The operation hit multiple sites across the port complex, damaging fuel-loading facilities, and at least one vessel docked at the oil terminal, according to a report from Reuters.

While we've been tracking escalating Ukrainian attacks on Russian energy sites for weeks, it's hard to overstate the impact of Friday's strikes.

Novorossiysk isn't just another port.

It's one of Moscow's primary gateways for moving crude to India and China and parts of southeastern Europe.

and today's operation sent an immediate shockwave through that system.

The attack sparked fires, triggered evacuations, caused Russia's state pipeline operator Transneft to temporarily halt crude flows through the facility, and forced Moscow to halt seaborne oil exports.

Energy analysts told Reuters that roughly 2.2 million barrels per day of capacity was disrupted.

It's a volume that represents close to 2% of global supply.

It was enough to spike global oil prices by more than 2% on Friday over fears of a supply shortage.

Officials with the Ukrainian general staff said significant damage was caused to, quote, valuable infrastructure at the port and oil terminal, and that a launcher from Russia's S-400 air defense system was also destroyed in the attack.

The officials added that the operation, which employed both attack drones and domestically produced long-range Neptune cruise missiles, was, quote, part of efforts to reduce the military and economic potential of the Russian aggressor.

In addition to the Black Sea port, Ukrainian officials said they also hid an oil refinery in Russia's Saratov region and a fuel storage facility near Engels.

While Russian officials acknowledged the strike on the Novorossiysk port, they were quick to downplay the extent of the damage.

But analysts said the attack will have profound ripple effects on Moscow's wartime economy.

As we discussed earlier on the PDB, the latest attack comes in the wake of U.S.

sanctions targeting Rosneft and Lukoil, which have already left nearly a third of Moscow's seaborne oil tankers sitting offshore with nowhere to go.

Today's hit on Novorossiysk compounds that backlog, adding another chokepoint to an already strained export network.

It's also worth noting that the Novorossiysk region has been under growing strain for weeks.

Storms in the Black Sea and earlier Ukrainian strikes already forced Russia to reroute tankers and pause shipments.

Today's strike, analysts say, could finally push the system to a breaking point, compounding the effects of U.S.