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RISK INTELLIGENCE REPORTS. 28th August 2025

Circular Ref: O(25)78

Members are invited to consider the most recent Risk Intelligence reports provided at the annexes as follows:

· Annex A – Mid East Updates
· Annex B – Northern Black Sea Updates

Annex A summarises the Middle East region security updates from the last week, where no major incidents have occurred. The situations in the Red Sea and Persian Gulf have remained stable, and merchant ship transits through the Red Sea have not significantly increased or decreased since February 2024.

Annex B summarises the security updates from the past week around the Black Sea region, where Russian forces have continued to target Ukrainian infrastructure through drone attacks. Further, the Ukrainians claimed that they attacked a Russian naval vessel in the Sea of Azov on 28 August. Discussions are still ongoing regarding a potential meeting between Putin and Zelensky, possibly joined by Trump; however, it is still unlikely that Putin would agree to come to the negotiating table.

In accordance with the scope of the agreement between ICS and Risk Intelligence, members are requested not to circulate the report further in its entirety. Members may precis the report or use extracts from it to help advise members on key issues or to assist in enquiries. In such cases, Risk Intelligence should be acknowledged as the source of the information.

MC(25)124 -Annex A – RI Mid East Report 27.8.25

MC(25)124 -Annex B – RI Black Sea Security Update 28.8.25

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