Ukraine

Despite Russian threats, seven ships have successfully journeyed to significant Ukrainian Black Sea ports in recent weeks, indicating Ukraine’s success in establishing its trade route post the safe-corridor deal collapse with Russia. However, this route still mandates careful navigation near Bulgaria and Romania’s coasts. The prior safe-corridor deal involved ship inspections in Istanbul and was limited to agricultural commodities, though deemed safer, reduced trade speeds, leading to a 50% drop in September grain exports compared to last year.