The Black Sea is the most dangerous it's been since the start of Russia’s war. And it's choking global grain — SkimNews
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- The Black Sea has become the most dangerous shipping zone since Russia's war against Ukraine began, with strikes against ports and vessels crippling key routes.
- Strikes on ports and vessels in the Black Sea have disrupted the shipping lanes that carry grain out of Russia and Ukraine.
- Russia and Ukraine's combined wheat exports have dropped 60% compared to the previous year as a direct result of the Black Sea shipping disruption.
- Global wheat prices have already risen above year-ago levels, with experts warning conditions could worsen further.
Why it matters: The 60% year-over-year drop in Russia-Ukraine combined exports strips a major share of global wheat supply from the market at once, with prices already above year-ago levels and experts warning the disruption could deepen further and squeeze import-dependent buyers.
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