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Russia-Ukraine conflict: Why the Black Sea matters to commodity markets

Crude and refined oil products from Russia, Azerbaijan and Kazakhstan pass through export terminals on the sea's eastern edge.

Photo: Bloomberg
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Photo: Bloomberg

Julian Lee and Megan Durisin | Bloomberg
The Black Sea -- a major artery for the movement of commodities at the crossroads of Europe and Asia -- is suddenly drawing the world’s attention as the conflict in Ukraine unfolds. 
Half a dozen countries touch its shores, though it’s vital to many others beyond, for the trade of energy, steel and agricultural products. 

Crude and refined oil products from Russia, Azerbaijan and Kazakhstan pass through export terminals on the sea’s eastern edge. On the west lie countries that depend on ships hauling crude to meet their energy needs. Known as one of the world’s breadbaskets, the region supplies tens of

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First Published: Feb 26 2022 | 7:44 AM IST

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