US veto blocks Ukrainian attacks on Russian oil tankers

The Financial Times reported that Ukraine has temporarily halted its drone attacks on oil tankers at the Novorossiysk port in Russia's Black Sea, in response to a request from U.S. Vice President J.D. Vance, aiming to reduce destabilization of the oil market and protect American companies. Kyiv agreed not to target Russian oil pipeline infrastructure or non-Russian ships that are not subject to Russian sanctions, in an effort to de-escalate tensions. The recent drone attack disrupted approximately 20% of the Caspian Pipeline Consortium's oil export operations. Additionally, Kazakhstan experienced a 14% decline in oil production in July amid escalating tensions and the impact of the Russian-Ukrainian conflict on the global market.

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