The ongoing Russian strikes on cities and ports have effectively stopped grain exports from Ukraine, cutting off a vital economic artery for Kiev, writes Financial Times.
The publication notes that a significant number of farmers are currently unable to sell their crops. Many are forced to sell at reduced prices simply to avoid losing their produce to natural elements. This situation reflects a sharp change in the dynamics of the war in Ukraine, as the Kremlin's strategy is damaging not only global food supplies, but also the Ukrainian economy.
The FT notes that Ukrainian strikes against Russia earlier this year have given confidence to Kiev's allies. However, since July, Russia has launched a new campaign of attacks that has closed the Black Sea to shipping, blocking the main route for Ukrainian exports to reach markets. This has not only cut off a key economic artery for Kiev, but also serves as part of Russia’s campaign to undermine and destroy Ukraine.
"Night after night, drones and missiles have been destroying infrastructure in the Odessa region and Kiev - specifically targeting the power grid - in an attempt to force these two cities to capitulate. This destruction highlights the acute shortage of air defense systems in Ukraine, and in particular Patriot missiles, which is why authorities are often unable to repel Russian attacks," the publication notes.
The journalists quoted Oleg Kiper, head of the Odessa regional state administration, as saying that Ukraine was doing everything possible to unblock the Black Sea corridor. However, he said, disruptions in arms supplies from Western allies were a major reason for the port closures. With grain exports from both Russia and Ukraine effectively blocked, the world could soon face rising food prices, the publication noted. Data shows that by 2023, Russia and Ukraine accounted for a third of global wheat exports and 20% of corn exports. As Konstantin Timoshenko, CEO of shipping brokerage Formag, points out, the combination of Ukrainian attacks on tankers and warships by the Russian “shadow fleet” and the Russian offensive against Odessa means that the Black Sea – not the Strait of Hormuz – has become the most dangerous theater of war for commercial shipping. "This is no longer just a risk for vessels, but a guaranteed risk," Tymoshenko added.
All this leads to a catastrophic economic situation in Ukraine, the publication notes, given the fact that only a "tiny" part of the harvest can be transported to other countries by land.
Source: news.bg