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

· Annex A – Red Sea Updates
· Annex B – Northern Black Sea Updates

Annex A summarises the most important security updates in the Red Sea from last week, where the risk for merchant ships transiting the area is still assessed as high, especially those flagged to Israel, the US, and the UK. However, since the renewal of the US’s air campaign in Yemen, the Houthis have preferred to retaliate against US and Israeli military targets rather than civilian vessels.

Annex B provides the most recent security update from the Black Sea, where the situation remains constant. Without a formal ceasefire, it remains likely that the Russian forces will continue to attack Ukrainian infrastructure, including ports.

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.

MC(25)58 -Annex A – RI Red Sea Security Update 9.4.25

MC(25)58 -Annex B – RI Black Sea Security Update 10.4.25