The intensification of attacks on ships, ports, and export terminals in the Black Sea is disrupting global supplies of grains and oil, turning the region into the latest choke point in global trade affected by conflicts, according to a Reuters analysis.
The Black Sea is a vital route for the transport of cereals, crude oil, and refined products, but Russia, the world’s largest wheat exporter, and Ukraine, another major agricultural exporter, have intensified reciprocal attacks on agricultural export facilities and commercial vessels in the Black Sea in recent weeks. Kiev has also stepped up attacks on oil tankers involved in Russian oil trade.
The Black Sea, almost inaccessible for commercial vessels
Global markets are already facing major disruptions to Middle Eastern trade routes, and the issues in the Black Sea are amplifying these disruptions.
“The consequences are already visible on the global agricultural markets. We must not allow this dangerous spiral of escalation to continue,” stated Kayoko Gotoh, a UN official, at a Security Council meeting last week.
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