Russia issues warning over Black Sea ships

Bloomberg News

The Russian Defense Ministry said all vessels in the Black Sea heading to Ukrainian ports will be considered potential carriers of military cargo starting Thursday, sending wheat futures soaring.

Ukrainian President Volodymyr Zelenskiy had said earlier that his country was studying options to get the grain corridor working again, including convoys for ships, according to the Interfax news service. Zelenskiy also said Russia had intentionally attacked grain-deal infrastructure overnight as he ordered his military to boost port defenses and diplomats to step up contacts with partners to continue exports of crops.

The Biden administration announced $1.3 billion in new military assistance for Ukraine, although the weapons still have to be put under contract and produced so they won’t arrive until materials are drawn from Pentagon stockpiles. The latest package includes four National Advanced Surface-to-Air Missile Systems, mine-clearing equipment and Phoenix Ghost and switch-blade drones.

Russian President Vladimir Putin will be participating in next month’s summit of BRICS leaders in South Africa online rather than in person, resolving a potential dilemma for that country’s authorities over whether to execute an International Criminal Court warrant for his arrest.