Russia's defense ministry warned Wednesday that ships sailing to Ukraine's Black Sea ports would be considered military targets.
to an inspection facility in Istanbul before heading to world markets. Threats from Russia, which is also a major wheat exporter, have previously halted those shipments at times, though only for a few days.
The signal Moscow seems to be sending now is that “this time they are serious” about leaving the deal, said Andrey Sizov, head of SovEcon, a Black Sea agricultural market research firm focused on Russia and Ukraine. Ukrainian port infrastructure attacked by Russia is pictured. | Ministry of Agrarian Policy and Food of Ukraine
American officials are talking with Turkish, Ukrainian and other foreign officials as they search for new ways to increase exports from Ukraine, according to a U.S. official, who was granted anonymity to discuss private conversations. That includes looking at ways to further expand overland routes from Ukrainian territory, according to the official.
Still, given Odesa’s prominence in global trade routes, the Russian threats to commercial ships in the Black Sea has sent panic through world markets and rippled through global food prices in the short-term. A Cargill spokesperson said its ships and facilities that are based in the nearby Pivdennyi port in the Black Sea were safe.
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