Russia's Grain Exports Slammed by Ukrainian Drone Attack

Russia's grain exports are facing yet another setback as all three terminals in the Black Sea port of Novorossiysk have been halted due to a Ukrainian drone attack. The move by KSK, Russia's largest sea grain terminal, means that 24.6 million tonnes of annual throughput will be affected.

This is on top of shipping restrictions imposed in the Sea of Azov after a July 10 drone attack. As a result, Russia's seaborne grain exports fell 20.3 per cent year on year in July.

Andrey Sizov, head of the Sovecon agency, estimates that the terminal suspensions could reduce Russian exports by 0.7 to 1.2 million tonnes in August alone.