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Black Sea War Insurance Soars Amid Ukraine Drone Strikes

12/10/2025

Summary

Story summary

War risk insurance for Black Sea vessels has risen up to 250% as Ukraine intensifies drone strikes on Russia's shadow fleet.
Premiums press Russia's sanctions-evading tanker network.
Ukrainian special forces targeted vessels and port infrastructure, including the Novorossiysk oil terminal.
Besiktas Shipping, Istanbul-based, will cease all Russia-related voyages after Mersin was damaged off Senegal.
Analysts say Putin has threatened retaliation, though they doubt Moscow can escalate its Black Sea presence.

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Story summary

War risk insurance for Black Sea vessels has risen up to 250% as Ukraine intensifies drone strikes on Russia's shadow fleet.
Premiums press Russia's sanctions-evading tanker network.
Ukrainian special forces targeted vessels and port infrastructure, including the Novorossiysk oil terminal.
Besiktas Shipping, Istanbul-based, will cease all Russia-related voyages after Mersin was damaged off Senegal.
Analysts say Putin has threatened retaliation, though they doubt Moscow can escalate its Black Sea presence.