Russian Grain Exports Plummet Amid Ukrainian Attacks

Russian grain exports in the Azov-Black Sea basin have been severely disrupted due to Ukrainian attacks and navigation restrictions. According to SovEcon's managing director, Andrei Sizov, over 90% of Russia's grain export capacity has been taken offline.

The disruption affects several major ports, including Novorossiysk, where three terminals have suspended operations. This is particularly concerning since the Azov-Black Sea basin accounts for 88% of Russia's maritime grain shipments.

Russia's grain exports typically peak during the August-to-December period, and the current situation threatens to severely impact the country's foreign-currency revenue. Grain exports bring around $15 billion into the Russian economy annually.