MARKET REPORT

Turkey Curbs Black Sea Commercial Traffic After Spike in Drone Attacks on Ships

Executive takeaway

Ankara has begun restricting commercial vessel movements into the Black Sea following a surge in drone strikes on merchant shipping.

Turkey has started restricting commercial ship traffic entering the Black Sea after a sharp increase in drone attacks on merchant vessels, according to reports published Monday. The restrictions affect passage through the Turkish Straits, the sole maritime route linking the Black Sea to the Mediterranean and a critical corridor for grain, fertiliser and crude oil exports from the region. Attacks on commercial tankers and bulk carriers in the Black Sea have increased in recent weeks, raising war-risk insurance costs for owners operating in the area. Turkey, which regulates the straits under the Montreux Convention, has previously used its authority to limit warship transits during the conflict.
Wire sources cited

Produced automatically by the INDY NEWS Desk from the public wire sources cited above, and checked against them before publication. Market commentary, not investment advice.