Ukraine Drone Strike Halts , Russian Grain and Oil Exports.
Insider reports that a Ukrainian drone
strike near the port of Novorossiysk forced a key
Russian export hub to temporarily halt traffic.
Insider reports that a Ukrainian drone
strike near the port of Novorossiysk forced a key
Russian export hub to temporarily halt traffic.
While Kyiv did not officially take responsibility for the
attack, sources told the 'Financial Times' that the Ukrainian
navy assisted security forces in carrying out the attack.
Novorossiyk houses a Russian naval base and
exports approximately 600,000 barrels of oil a day. .
Following news of the attack, wheat futures jumped
up 3.5%, while Brent crude futures rose 0.6%.
Insider reports that the news
comes after a series of Russian attacks
on Ukraine's grain export infrastructure. .
Moscow is waging a battle
for a global catastrophe. , Volodymyr Zelensky, Ukrainian President, via Market Insider.
In their madness,
they need world food markets
to collapse, they need a price crisis,
they need disruptions in supplies, Volodymyr Zelensky, Ukrainian President, via Market Insider.
In their madness,
they need world food markets
to collapse, they need a price crisis,
they need disruptions in supplies, Volodymyr Zelensky, Ukrainian President, via Market Insider.
The attacks come after Russia refused to honor
a key grain deal with Ukraine that allowed for
the safe passage of 33 million tons of crops.
The attacks come after Russia refused to honor
a key grain deal with Ukraine that allowed for
the safe passage of 33 million tons of crops.
Insider reports that Ukraine's ability to carry out drone
strikes presents a new threat to Russia's commodity
exports, already impeded by price caps and sanctions.
According to drone-expert Stephen Wright, it is unlikely
that the attack will be a one-off event, as Ukraine looks to
ramp up attacks with bigger, more powerful sea drones