War-risk premiums for Ukrainian and Russian Black Sea ports are rising
UkrAgroConsult
The EWRI (insurance tariff related to war risk) for Ukrainian deep-sea ports increased slightly over the last 5–6 weeks. While it remains well below the 1.0–1.2% peaks observed in 2023, it is considered an indication mirroring the war risks. Black Sea tensions are now a recognized factor, however the EWRI for Romania, Bulgaria and Turkey is much lower. War-risk premiums for Russian Black Sea ports also risen considerably.
For more information on how this could impact price competitiveness, particularly for long-distance routes, please refer to the UkrAgroConsult weekly report ‘Black Sea Grain’, issue #48, dated 8 December 2025.
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