Fire Extinguished at Russian Oil Refinery after Drone Attack

File phot: A still image from a video shows smoke rising following an alleged drone attack on oil depot in Sevastopol, Crimea, April 29, 2023. Governor of Sevastopol Mikhail Razvozhaev via Telegram/Handout via REUTERS
File phot: A still image from a video shows smoke rising following an alleged drone attack on oil depot in Sevastopol, Crimea, April 29, 2023. Governor of Sevastopol Mikhail Razvozhaev via Telegram/Handout via REUTERS
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Fire Extinguished at Russian Oil Refinery after Drone Attack

File phot: A still image from a video shows smoke rising following an alleged drone attack on oil depot in Sevastopol, Crimea, April 29, 2023. Governor of Sevastopol Mikhail Razvozhaev via Telegram/Handout via REUTERS
File phot: A still image from a video shows smoke rising following an alleged drone attack on oil depot in Sevastopol, Crimea, April 29, 2023. Governor of Sevastopol Mikhail Razvozhaev via Telegram/Handout via REUTERS

A drone attack set ablaze parts of an oil products reservoir at a refinery in southern Russia, but emergency services said they extinguished the fire just over two hours later, TASS news agency reported early on Thursday.

TASS said the incident occurred at the Ilsky refinery near the Black Sea port of Novorossiysk in the Krasnodar region, Reuters said.

A day earlier, a fuel depot further to the west caught on fire near a bridge linking Russia's mainland with the occupied Crimea peninsula.

"A second turbulent night for our emergency services," Krasnodar governor Veniamin Kondratyev wrote on Telegram, adding that tanks with oil products were on fire at the Ilsky refinery.

There were no casualties, he said, citing preliminary reports and he did not say how the fire started.

Ukraine rarely claims responsibility for what Moscow says are frequent drone strikes against infrastructure and military targets, particularly in regions close to Russia.

Moscow blamed Ukraine for an attack on April 29 that set fire to an oil depot in Sevastopol. Kyiv's military says undermining Russia's logistics is part of preparations for a long-expected counteroffensive.



Japan, Canada Agree to Cooperate on Market Stability

Canadian Finance Minister Francois-Philippe Champagne attends the new cabinet's swearing-in at Rideau Hall in Ottawa, Ontario, Canada March 14, 2025. REUTERS/Blair Gable/File Photo
Canadian Finance Minister Francois-Philippe Champagne attends the new cabinet's swearing-in at Rideau Hall in Ottawa, Ontario, Canada March 14, 2025. REUTERS/Blair Gable/File Photo
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Japan, Canada Agree to Cooperate on Market Stability

Canadian Finance Minister Francois-Philippe Champagne attends the new cabinet's swearing-in at Rideau Hall in Ottawa, Ontario, Canada March 14, 2025. REUTERS/Blair Gable/File Photo
Canadian Finance Minister Francois-Philippe Champagne attends the new cabinet's swearing-in at Rideau Hall in Ottawa, Ontario, Canada March 14, 2025. REUTERS/Blair Gable/File Photo

Japan and Canada, who is this year's chair of the G7 developed economies, have agreed to cooperate to maintain stability in financial markets and the global financial system, Japan's Ministry of Finance said on Wednesday.

In a phone conference on Wednesday, Japanese Finance Minister Katsunobu Kato and his Canadian counterpart, Francois-Philippe Champagne, shared concerns over the series of tariffs implemented by the US government, the ministry said in a statement.

As US President Donald Trump's sweeping reciprocal tariffs took effect from midnight with a 104% levy on Chinese imports, China retaliated by vowing to raise tariffs on the US to 84% from Thursday, Reuters reported.

This led to a market rout with bond prices tumbling and global stocks falling further. US Treasuries, the safest haven for the global financial system, were hit by fresh selling pressure on Wednesday in a sign that investors were dumping their safest assets.

The US dollar also weakened against other major currencies.

Japan will cooperate with the Group of Seven advanced economies and the International Monetary Fund to help stabilize a market rout unleashed by US tariffs, the country's top currency diplomat said on Wednesday.