Bloomberg: Turkey begins restricting commercial ship passage in the Black Sea - Sarmad

Sources familiar with the matter told Bloomberg that Turkey has begun restricting ship movements in the Black Sea.

Bloomberg, citing individuals with knowledge of the situation, reported that Turkey had restricted shipping in the Black Sea amid growing concern from the Turkish government “following an escalation of attacks on vessels in the region.”

The sources added that the General Directorate of Coastal Safety notified numerous ships bound for Russia’s Novorossiysk, a major hub for oil and grain exports, that it was not currently issuing transit permits for such voyages, or that it required additional time to review applications passing through the Dardanelles Strait.

This move threatens to add a new layer of complexity to global trade at a time when oil flows are already severely disrupted by the war in Iran and reduced volumes through the Strait of Hormuz. Additionally, attacks amid the Ukrainian crisis have raised concerns about supplies from the Black Sea grain region, contributing to pushing wheat prices to their highest level in two years in July.

Notably, no official Turkish announcement has been made regarding this matter so far.