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Ships Shelled in Black Sea as Invasion Sparks Maritime Chaos

  • Insurance a stumbling block for companies that want to export
  • Region is a major source of the world’s commodities and oil
Bloomberg business news
Putin Reportedly Open to Talks on Ukraine Neutrality
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Russia’s invasion of Ukraine has brought turmoil to commodities markets as the conflict ensnares merchant shipping.

At least three merchant ships have been reportedly hit since Russian forces began the attack on its neighbor this week. Insurers are either not offering to cover vessels sailing into the Black Sea, or they’re demanding huge premiums to do so.