Ukrainian attacks on the Russian Navy have affected global grain prices
Ukraine’s strikes on Russian ships in the Sea of Azov affected not only the military situation but also the grain market. Following the attacks, Russia restricted ship traffic, and wheat prices on global exchanges began to rise.
Several ships were hit in Taganrog Bay, and traders began assessing potential grain supply issues due to disruptions to key maritime routes.
Ukrainian drones attacked strategically important targets in the Sea of Azov, including several Russian ships in the Taganrog Gulf. Following this, Russia temporarily restricted shipping in the Sea of Azov region. Four vessels were hit. Among them was a tanker carrying methanol. Yuriy Slyusar, governor of the Rostov Region, stated that there was no risk of a hazardous substance leak, but one crew member was killed as a result of the attack.
Following the strikes, Russia halted vessel traffic through the Don-Azov Canal, which connects the Don River to the Sea of Azov. The Kerch Strait—a key route between the Sea of Azov and the Black Sea—was also closed starting Friday evening. These events immediately impacted the grain market. Traders began factoring in potential supply disruptions, causing wheat prices on the Euronext exchange to rise by approximately 4% on Friday and reach their highest level in the past six weeks.
Robert “Madyar” Brovdi, commander of the Ukrainian drone unit, stated that in a single night, Ukrainian forces allegedly struck 28 Russian Navy vessels in the Sea of Azov, including tankers and dry cargo ships. He also reported that a total of 76 vessels had been struck since July 6. This information cannot currently be independently verified.
At the same time, it is noted that the Azov ports are not typically the main route for Russian oil exports. Tanker shipments there are primarily related to the delivery of petroleum products to occupied Crimea and surrounding areas, where fuel shortages have recently arisen. Amid attacks on Russian targets, Russia also struck Ukraine. On the night of July 11, Russian troops attacked Kyiv and other regions. According to Ukrainian President Volodymyr Zelenskyy, the enemy launched 120 drones and 12 missiles, resulting in civilian casualties.
The Odesa region was also targeted. Russian forces attacked port infrastructure in Odesa, Chornomorsk, and Izmail. Odesa and Chornomorsk remain key hubs for Ukrainian grain exports via the Black Sea. Izmail, on the Danube, has become one of the main export hubs since the start of the full-scale invasion and the blockage of some traditional maritime routes.
According to the Russian Ministry of Defense, the strikes on Ukrainian ports were allegedly directed at “war-related facilities.” At the same time, the Ukrainian side emphasizes that Russia is attacking civilian and port infrastructure that is vital to the country’s economy. Bloomberg reported on the attack, citing its own sources and data from market participants.
Russia likely has several scenarios for potential aggression against European countries and NATO’s eastern flank. This view was expressed by Oleksandr Musienko, a Ukrainian Armed Forces officer and military analyst.
