Zelensky Blames Russia, Goads Western Allies, After Fire Breaks Out At Zaporizhzhia Nuclear Plant

Just hours before futures in the US open, troubling news has surfaced on X that Ukraine's Russian-held Zaporizhzhia nuclear power plant's cooling tower has caught fire. 

At first, several X users that identified as "OSINT"—or open-source intelligence—pointed out the fire developing at the largest nuclear power plant in Europe (able to generate 6,000 megawatts for four million homes). 

About 15 minutes later, around 1500 ET, Ukrainian President Volodymyr Zelensky confirmed on X that "Russian occupiers have started a fire on the territory of the Zaporizhzhia Nuclear Power Plant."

Zelensky continued:

Currently, radiation levels are within norm. However, as long as the Russian terrorists maintain control over the nuclear plant, the situation is not and cannot be normal.

Since the first day of its seizure, Russia has been using the Zaporizhzhia NPP only to blackmail Ukraine, all of Europe, and the world.

We are waiting for the world to react, waiting for the IAEA to react. Russia must be held accountable for this. Only Ukrainian control over the Zaporizhzhia NPP can guarantee a return to normalcy and complete safety.

Zaporizhzhia NPP has come under shelling and drone attacks in the past. The United Nations nuclear watchdog agency, the International Atomic Energy Agency, has issued numerous warnings about the plant dangerously close to suffering an accident or attack. 

According to Russian state-controlled Russia Today, the fire at Zaporizhzhia NPP's cooling systems facility was the direct "result of Ukrainian shelling of Energodar city - local authorities." At this moment, it really depends on the source for who is responsible for the fire. Welcome to the 'fog of war'. 

AFP News cited Yevgeny Balitsky, the Russian-installed governor of Ukraine's Zaporizhzhia region, who said the fire at the cooling system was a result of shelling of the town of Energodar by the Ukrainian armed forces.

Data from the Joint Research Centre of Radioactivity Environment Monitoring (view here) shows radiation levels are still normal despite the ongoing incident. 

In April, Goldman's Borislav Vladimirov told clients, "Sabotage or failure at the NPP Zaporizhzhia. Situated on the front line of the war in Ukraine, the Zaporizhzhia nuclear power plant, the largest of its type in Europe, poses ongoing risks not only due to the threat of Russian sabotage, but also to the gradual deterioration of the facility due to poor maintenance and extreme (war-zone) operating conditions."

The fire at the Zaporizhzhia NPP coincides with the recent deployment of Ukrainian fourth-generation F-16 fighter jets in the air along the frontline in the southern Kherson region, according to Newsweek. Additionally, Ukrainian forces have seized the "Sudzha" gas metering station, one of the last remaining Russian pipelines still delivering NatGas to Europe through Ukraine. Meanwhile, Ukraine has been intensifying suicide drone missions targeting Russian energy infrastructure. 

In markets, well, crypto at the moment, since futures are closed, the first response by algos has been to dump Bitcoin and Ethereum.

*This story is developing...  Please check back for updates.