Ukrainian drone strikes halt shipping on key wheat route as Russian fuel crisis deepens
Ukrainian drone strikes have brought shipping in the Sea of Azov to a near standstill, disrupting a corridor carrying up to a quarter of Russia's wheat exports and rattling global grain and fuel markets.
According to Reuters, Ukrainian drone strikes have nearly halted shipping in the Sea of Azov, a vital corridor for Russia's wheat exports – up to a quarter of the total volume passes through it. The disruption has sent shockwaves through global grain and fuel markets.
The drone attacks have also knocked out a significant share of Russia's refining capacity. In response, Moscow has imposed a ban on diesel exports until the end of July, further unsettling global fuel markets.
In Russian-occupied Crimea, gasoline prices have hit a record high. These developments underscore the growing pressure on energy and food markets as a result of the conflict in Ukraine.
