From the article:

The Ukrainian Defense Forces carried out a series of large-scale strikes against Russian maritime logistics on Saturday, July 11, hitting 21 oil tankers, four tugboats, and two dry cargo ships in the Sea of Azov.

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According to sources cited by Reuters, the Russian Border Guard Service has stopped accepting applications from shipping companies seeking transit through the Kerch Strait and the Don-Azov Canal, effectively freezing commercial navigation between the Black and Azov seas. Russian authorities have not provided a timeline for reopening the strait.

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Because the Azov Sea handles up to 25% of Russia’s outbound wheat shipments – with major agricultural hubs in Rostov and Krasnodar situated along its coast – the closure immediately impacted global food markets. Following reports of the shipping restrictions, wheat futures on the Euronext exchange surged by nearly 4%, reaching a six-week high.