The biggest victims are Ukraine’s agricultural and steel firms — both key economic drivers — which are cut off from crucial trading routes via the Black Sea. While the Black Sea isn’t officially blocked, vessels are avoiding Ukraine for fear of being hit by missiles. "You can barely find a vessel owner brave enough to actually go for one of the Ukrainian ports right now." Black smoke rises from a vessel damaged by a Russian attack in the Black Sea off Odesa Oblast, Ukraine, on July 28, 2026. Turkey is a key stakeholder that operates in Ukrainian and Russian ports and buys both Russian and Ukrainian grain and metal, Vovk said.