Putin Downplays Damage from Ukrainian Strikes on Shipping

Russian President Vladimir Putin has estimated that damage from Ukrainian strikes on shipping in the Black and Azov seas amounts to around 1% of Russia's GDP. This assessment comes as Ukraine continues to target Russian vessels, with approximately 100 ships damaged over a 40-day period.

Putin acknowledged the threat posed by Ukrainian drones but downplayed the damage, describing it as 'not critical.' However, he noted that Russia is capable of dealing with the threat.

The impact of these strikes is particularly visible in Russia's grain export logistics. In 2025/26 MY, Russia exported 46.3 million tons of grain through its Black Sea and Azov Sea ports, accounting for around 90% of seaborne shipments.

Shipping disruptions have already affected the pace of Russian grain exports, with wheat shipments in August estimated at only 1.8 million tons, a significant decline from last year's figure and the lowest August volume since 2010.