America’s leading fuel pipeline operator is still working to recover from a colonial pipeline cyber ransomware attack that forced it to halt all operations on Friday. The move has raised concerns about rising retail petrol prices, In money we said.
Shortage on the East Coast
According to Bloomberg, gas stations from Virginia to Florida and Alabama are warning that their gasoline stocks have run out. They also care about customer panic.
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Experts estimate that the East Coast is losing about 1.2 million barrels of gas a day due to the disruption caused by the cyber attack. Patrick Deehan, an analyst at the technology company Gaspatti, said approximately on Monday. Gas stations in Virginia have run out of fuel. The aviation sector has also been hit by the shortage.
Will the rules for transporting fuel be relaxed?
Bloomberg notes that Colonel Pipeline CEO Joe Blount has assured authorities that the company has full operational control over the pipeline. However, it will not resume distributions until ransomware is neutralized.
So when can the operator be expected to return to full operation? Colonial Pipeline Management has now confirmed that it will manually operate the division that runs from North Carolina to Maryland. It should return to normal operation by the weekend.
Meanwhile, Reuters reports that the Ministry of Transport is considering easing fuel regulations. This is a temporary exemption from the Jones Act of 1920, which stipulates that only ships built in the country with an American crew can carry goods between ports in the United States.
There is a Russian group behind this attack
So who is behind the cyber attack? US President Joe Biden does not want to blame the Russians for the attack. However, as Bloomberg points out, the head of state is said to have concluded that there is “evidence” that hackers or used software came from Russia.
The FBI confirmed on Monday that the group was responsible for the cyber attack. CNN previously named it a Russian criminal group.
This group is known to infect systems with ransomware. The media has previously branded them criminals. They also point out that “Darkshide” avoids attacks on targets located in post-Soviet countries.
Ransomware is a type of malware designed to lock systems by encrypting data. Hackers usually ask for money to regain access.