Russia Expands Black Sea Blockade as Western Sanctions Target Energy Infrastructure
Reuters·2 hours ago
Russia has significantly expanded its naval blockade in the Black Sea following new Western sanctions targeting its energy export infrastructure. The move threatens to disrupt grain shipments from Ukraine and further tighten global oil supply chains. NATO allies are convening an emergency session to discuss naval escort options. Several major shipping insurers have raised premiums by over 30% overnight. Energy markets are bracing for a potential supply shock as key pipeline routes come under increased pressure.
#russia #oil #sanctions #black-sea
Read more →Oil futures surged 2.3% on supply disruption fears, with Brent crude approaching $97/barrel. Energy majors with Russian exposure face compounded uncertainty while shipping and logistics stocks see elevated volatility.