For the first time since July, the Russian authorities have allowed grain vessels to leave the ports of the Sea of Azov. At the same time, in the absence of a truce, the vessels continue to risk coming under attack in the Black Sea. Bloomberg reports this, citing sources, UNN writes.
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At least one vessel has already successfully passed through the Kerch Strait toward the Black Sea.
According to the publication, Russia and Ukraine account for more than a quarter of global wheat trade. However, intensified attacks between the two countries have damaged ports and vessels in the waters of the Black and Azov seas, complicating grain supplies. In August, wheat prices rose to their highest level in three years.
Following reports that vessel departures had resumed, wheat futures in Chicago fell by 2.8% on Wednesday, dropping to their lowest level since July 1.
Before the escalation, the Sea of Azov accounted for approximately one-third of Russia’s seaborne wheat exports. Commercial shipping in the region was suspended on July 10 due to the threat of attacks.
According to sources, the possibility for vessels to depart was opened on Monday. Vessels ready to sail and equipped with crews may apply for the relevant permit.
At the same time, the resumption of shipping in the Sea of Azov does not eliminate all risks to exports. In the absence of a truce, vessels remain vulnerable to drone attacks while passing through the Black Sea