Ukraine has agreed not to target some non-Russian oil tankers and Black Sea infrastructure critical for exporting Kazakhstan’s crude, after strikes on vessels in July halted loadings, according to a US official, The Straits Times reports.
Ukraine has set up points of contact to allow commercial shippers to communicate information and ensure safe passage, said the US official, who asked for anonymity to speak candidly about the private agreement.
The commitment, which follows a meeting between senior US government leaders and Ukrainian leadership, marks a potentially significant step in increasing oil flows in the region, after a spate of recent attacks on ships near the Caspian Pipeline Consortium (CPC) terminal in Novorossiysk, Russia, chilled activity.
The CPC terminal is critical for getting Kazakhstan’s oil to market because the Central Asian country does not have significant capacity to export barrels via alternative routes.
The CPC normally handles about 2 per cent of global crude supplies, and Europe’s refiners are heavily reliant on volumes from the region.
Ukraine has intensified its campaign against Russian oil ports as part of the war that began with Moscow’s invasion in 2022, including attacks on ships at the CPC terminal, which has disrupted loadings and halted some operations as shipowners steered clear.
It has come at a time when the world can ill afford more disruptions in global oil flows, with the war in Iran and a reduction in volumes through the Strait of Hormuz already keeping barrels off the market.
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