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.

Tags: Ukraine, Russia, export, agricultural products, war, Black Sea corridor