Recent drone strikes by Russian forces on merchant vessels linked to Ukrainian trade have driven a sharp escalation in Black Sea shipping risks, with multiple attacks reported in October and early November 2026, including the sinking of the Contship Jet off Bulgaria and incidents near Romanian waters. Russia has targeted ships in the western Black Sea, including NATO members' exclusive economic zones, to disrupt grain and agricultural exports from Ukrainian ports, while Ukraine has conducted counter-strikes on Russian-linked vessels. Over 570 vessels faced incidents this year, resulting in at least 30-40 seafarer deaths or missing persons, far exceeding comparable risks elsewhere. Shipping operators are increasingly refusing charters to Romanian and Bulgarian ports amid rising insurance costs and safety concerns. Ongoing military operations and the absence of new de-escalation agreements sustain the elevated threat of further strikes on commercial traffic.