Black Sea Blockage Looms as Ukraine and Russia Clash Over Grain Exports

Russian grain exporters have warned of a looming blockage in the Black Sea, which could lead to price rises and shortages for developing countries. The union of grain exporters and producers said that Ukrainian attacks on shipping in the area are likely to cause a complete blockage of grain export corridors.

The conflict between Russia and Ukraine has been affecting agricultural exports, with both sides targeting each other's facilities and vessels in recent weeks. As a result, Russia, the world's largest wheat exporter, may face a shortfall in supply this season, potentially reaching 30-35 million tons.