EMEA News
Russia Closes Sea of Azov to Commercial Shipping
Russia has suspended shipping in the Sea of Azov as the Ukraine crisis develops.
The suspension covers the whole of the Sea of Azov and will be in effect until further notice, price reporting agency S&P Global Platts reported on Thursday, citing comments from Russia's Agency for Maritime and River Transport.
Russian-flagged tankers are reported to be blockading the Kerch Strait linking the Sea of Azov to the Black Sea.
The move is likely to hamper grain exports from the region, as well as heightening tensions in the wider Black Sea area.
Russia's decision to send its military into large sections of Ukraine as of Thursday morning has sent crude and bunker prices soaring on concern over the effect of potential US and EU sanctions on the country's energy exports.
