Ships under attack threaten global food supply

Concerns are increasing over the repercussions of the attacks on ships in the Black Sea, as more than 50 merchant vessels have come under attack during June and July near Ukrainian ports. These attacks are disrupting grain exports and threatening a new global food crisis. Reports indicate that the assaults have resulted in the deaths of over 30 civilians and caused a decline in navigation activities at the Odessa port, which accounts for approximately 60% of Ukraine's export revenues, estimated at $3.5 billion per month. There are fears that ongoing attacks will leave millions of tons of grain stranded, raising food price risks and repeating the grain supply crisis that began in 2022. This situation could increase tensions in global trade routes, leading to higher transportation costs and rising prices for essential goods.

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