Black Sea Conflict Disrupts Grain and Oil Supplies
The Black Sea has become a hotspot for conflict, disrupting global supplies of grain and oil. The region is shared by Russia, Ukraine, Bulgaria, Georgia, Romania, and Turkey.
Russia and Ukraine have intensified attacks on each other's agricultural export facilities and commercial vessels in the Black Sea area in recent weeks, with Kyiv also targeting tankers involved in Russia's oil trade.
The escalation has created another pressure point for commodity markets already coping with disruptions to major shipping routes in the Middle East. U.N. official Kayoko Gotoh warned that 'we must not allow this dangerous escalatory spiral to continue.'
Ukraine recorded 35 attacks on vessels in port and 22 at sea in July, along with 67 strikes on port facilities.