Russia has warned it will treat all vessels heading to Ukraine’s ports as military threats, signalling its intent to reimpose a naval blockade on Ukraine in a move that sent European and US grain futures soaring.
The announcement followed Russia’s decision this week to withdraw from last year’s UN-brokered agreement to allow Ukrainian Black Sea grain exports to continue despite the war.
Since then Moscow has stepped up pressure on the Ukrainian port city of Odesa, launching a second night of attacks on what is the hub for much of the country’s grain exports.
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