Posted on February 10, 2022

Ukrainian officials said that naval drills off its Black Sea coast made navigating the busy trade route “impossible”. There has been a visible impact on imports and exports.

The Black Sea is a major export region for several commodities, including crude oil, refined oil products, liquified petroleum gas, steel, grain, and other agricultural products. Dry bulk exports were strong in January. However, shipments in February are expected to fall by -44% compared with last year.

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