War risk insurance rates rise in the Black Sea after Ukrainian attacks on tankers

War risk insurance rates in the Black Sea have increased following Ukrainian attacks on tankers. The cost of insuring vessels against military risks has risen due to fears of further attacks, impacting shipping and insurance sectors. Rates for Ukrainian ports increased to 0.5% from 0.4%, and for Russian ports from 0.6% to 0.65-0.8%. These attacks, which damaged two tankers belonging to Russia's shadow fleet near Turkish straits, highlight Ukraine's expanded operational range and capabilities with naval drones.