Rosneft in the news due to ongoing Ukrainian drone strikes on Russian oil hubs and sanctions pressure hitting Russia’s energy revenue. Russia’s state-owned oil giant, Moscow-based.
The US has extended a temporary waiver allowing India to buy Russian oil loaded before March 5, as global energy markets face turmoil from Middle East conflicts and Strait of Hormuz closure. The move aims to stabilize prices but raises concerns over sanctions and geopolitical risks.
On March 12, 2026, the US Treasury issued a 30-day waiver allowing countries to buy Russian oil already at sea to stabilize global energy markets disrupted by the Iran conflict. Treasury Secretary Scott Bessent emphasized the measure's limited benefit to Russia, applying only to oil in transit. This follows a similar waiver for India amid soaring oil prices and geopolitical tensions.
Ukrainian drone attacks have damaged Russian oil infrastructure, including ports and refineries, disrupting about 40% of Russia's oil exports. The strikes follow recent escalations and are part of Ukraine's efforts to weaken Russia's war financing. The attacks impact global energy markets amid rising tensions.
The Strait of Hormuz has been declared fully open for commercial vessels following Iran's announcement, leading to a sharp decline in oil prices. The move comes amid a ceasefire in Lebanon and ongoing US-Iran talks, with markets responding positively to the de-escalation of tensions.
Kazakhstan has redirected up to 100,000 metric tons of crude to the Baltic port of Ust-Luga and another 160,000 metric tons via the CPC in southern Russia, in a shift that follows attacks on the Druzhba pipeline and raises questions over supply to Germany and Berlin’s PCK refinery.
Ukrainian drones have repeatedly struck the Tuapse refinery and offshore terminal, intensifying fires and an oil spill that authorities say remains under containment. Officials warn of ongoing smoke, benzene levels and environmental damage as Moscow argues this targets revenue; Kyiv says it disrupts Russia’s war effort. The global oil market remains sensitive amid these attacks.
EU foreign ministers are discussing the idea of engaging directly with Russia to end the Ukraine war, with Kyiv urging Europe to take a strong role. Names floated for a potential EU envoy include Angela Merkel, Mario Draghi, and Sauli Niinistö, though Brussels remains cautious about impartiality amid stalled US-led negotiations.
Ukrainian drone strikes and falling drone debris have caused fires at multiple Russian oil facilities this month, including an oil terminal in Novorossiysk that has wounded two people and reported damage at Taganrog and Armavir. Kyiv has been carrying out long-range strikes to disrupt Russian oil exports and revenues.