Historic blockade at the Black Sea and the Sea of Azov: Maritime attacks have led to the halt of over 97% of grain exports from Russia and Ukraine.

Reciprocal attacks between Russia and Ukraine have led to the closure of over 97% of the grain export capacity in the Sea of Azov and Black Sea basin, according to Reuters.

In the last month, both countries have intensified attacks on ports, forcing importers from the Middle East, Africa, and Asia to seek grain from more expensive suppliers, such as Australia and the United States. In the previous season, Russia and Ukraine together exported about 7.2 million tons of grain per month, but currently, shipments from Ukrainian ports are suspended.

Global wheat prices have risen by 6.5% in the last month and are 30% higher than last year. Analysts estimate that Russia's wheat exports will reach their lowest level since 2010, as Ukrainian ports in Odesa have ceased operations. Ukraine is now relying on rail and river routes for exports, while Russia is seeking alternatives through ports in the Baltic Sea and the Caspian Sea, but with logistical challenges.