RISK INTELLIGENCE REPORTS - 27th November
Circular Ref: O(25)102
Issue Date: 03 Dec 2025
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 security events across the Middle East in the past week, where the status quo remains despite Israel killing Hezbollah’s military leader in an airstrike on Beirut. Further, while some shipping lines have publicly stated an intent to return to the Red Sea, many large shipping lines are still waiting for conditions to normalise.
Annex B summarises the security events across the Black Sea region over the past week, where there have been thirteen maritime-related incidents in the past week, all of which have targeted Russian oil infrastructure. These attacks are likely from Ukrainian-backed forces seeking to economically cripple the Russian state’s cash-flow from oil trading.
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.