A Russian merchant ship loaded with grain stolen in Ukraine has been turned away from at least one Mediterranean port and is now in the Syrian port of Latakia, according to shipping sources and Ukrainian officials.
The cost of insuring merchant ships sailing to ports in the Black Sea has spiraled out of control, becoming a huge potential impediment to the movement of Russian cargoes from the region.
London’s marine insurance market has added all of Russia’s waters to its list of areas deemed high risk, an advisory showed, which is likely to raise the cost of shipping and adds to the logistical pressures on Moscow.
The EU is proposing further sanctions against the Kremlin after allegations of Russian war crimes in Ukraine, with EU ambassadors meeting on Wednesday to decide what steps to take.
