According to CoinMeta, Turkey is restricting commercial vessels from entering the Black Sea due to security concerns. The reason is an increase in attacks on ships in the region by Russia and Ukraine, which has raised concerns among the Turkish government. The Turkish Coast Guard has informed several ships heading to Novorossiysk, Russia, that transit permits will not be issued for such voyages at this time, or that applications through the Dardanelles Strait will require additional time for review. Some ships have been informed that this restriction also applies to those sailing towards Ukraine. Turkish authorities have not provided any explanation for this measure. This move may add new complexities to global trade at a time when oil flows have been severely disrupted due to the war in Iran and reduced transportation volumes through the Strait of Hormuz.