Miller Magazine Issue:114 June 2019

76 JUNE 2019 “Today, Kazakhstan, Russia, Ukraine and the Danube Region countries together make up around 40 per cent of the global wheat trade. The Black Sea Region is the runner-up (after the Persian Gulf Region) in oil and natural gas resources…The military conflict in eastern Ukraine and the trade embargo against Russia had a significant impact on container turnover in the countries of the Black Sea Region. However, by the end of 2016, almost all Black Sea Region countries had increased traffic of loaded containers. According to the Ukrainian Sea Ports Administration, Black Sea Region ports showed growth, which allowed them to restore the positions lost in 2015.” How do sanctions impact on trade in the Black Sea Region? Arthur Nitsevych Alexey Remeslo Partner, Attorney Interlegal Law Firm LMAA and SCMAA member, FNI nitsevych@interlegal.com.ua , Associated Partner ICS, MNI, Interlegal Law Firm remeslo@interlegal.com.ua