Russia said on Saturday that its forces had continued striking Ukrainian troops in Krasnoarmeysk (known as Pokrovsk in Ukraine) in the Donetsk region, while the Ukrainian side reported on the same day of repelling Russian attacks.
The Russian Ministry of Defense said in its daily briefing that its forces have successfully thwarted Ukrainian attempts to advance northward. In Kupyansk, located in the Kharkiv region, Russian troops intensified their assaults on the encircled Ukrainian forces, repelling two relief offensives launched by Ukraine.
The General Staff of the Ukrainian Armed Forces reported on the same day that, as of 22:00 local time that day, Russian forces had launched 69 offensives across multiple locations in the Pokrovsk direction. Ukrainian forces held their ground against the Russian assault, and fighting persisted in several areas.
Additionally, in the Kupyansk direction, Ukrainian defensive units successfully repelled four Russian attacks on settlements in the region.
The Russian Ministry of Defense also announced on Saturday that Russian armed forces had conducted a large-scale attack on Ukrainian military-industrial enterprises and related energy facilities from Friday night to the early morning of Saturday.
Ukraine reported that Russian airstrikes had damaged energy and transportation infrastructure in several regions, prompting the implementation of power rationing across most of the country on Sunday.
Russia claims to have struck Ukrainian troops, Ukraine reports repelled attacks
The restricted navigation through the Strait of Hormuz has triggered significant disruptions across the international shipping sector, driving up shipping costs and legal pressures related to shipping.
Iran has restricted navigation through the Strait of Hormuz, a vital strategic waterway linking the Persian Gulf to the Indian Ocean, as part of its response to U.S. and Israeli military attacks that started on Feb 28.
The partial blockade of this vital global energy route has not only impacted global energy supplies but also caused a ripple effect on energy trading, shipping operations, and the insurance market.
Wai Yue Loh, partner of DAC Beachcroft, and a specialist in shipping, trade, commodities and insurance law said he has been dealing with questions from shipping clients after the conflict in Iran broke out.
He said the commodities traders bear the brunt of Strait of Hormuz crisis and explained the interconnected vulnerabilities across the three industries most affected.
"It's easy to forget that the first industry directly affected would be the commodities traders who are buying and reselling crude oil coming out from the Middle East. Crude oil cargoes from this region account for about 25 percent or more of the world's crude oil supplies. The second industry affected would be the shipowners or the ship operators whose ships are chartered by these commodities traders, in simple terms hired by these commodity traders, to carry these cargoes from the Persian Gulf to refineries around the world for refining. These refined products are then on-sold to other buyers worldwide. The third would be the insurance industry that provides, amongst other things, war risk cover for ships that are trading globally," he said.
With the rising risks of war, shipping companies face not only security challenges but also complex legal issues such as rising insurance costs, increased uncertainty in contract performance, and the apportionment of liability, he added.
Hormuz Strait crisis delivers severe blow to global shipping industry
