The euro is lower in early Asia-Pacific trade, though liquidity is very thin with New Zealand effectively the only FX market open, so early moves may overstate conviction. A fresh airspace violation on NATO’s eastern flank adds a geopolitical risk premium to the single currency, and escalating riots in France and elsewhere in the EU are also weighing on the euro. For energy and freight markets, back-to-back drone incidents near Romania’s coast raise the risk of higher war-risk insurance costs and caution among operators using western Black Sea routes. Tuesday’s NATO council meeting is the next catalyst: a firmer collective response could extend risk aversion, while an outcome framed as containment may let the euro stabilise once deeper liquidity returns.---EUR marked lower:Monday open indicative forex prices, 19 October 2026---Romania has now had to put fighter jets in the air to protect its own Black Sea airspace, turning a regional shipping threat into an issue NATO will take up on Tuesday.Summary:Romanian Air Force F-16s shot down two drones over Romanian territorial waters in the Black Sea on Saturday, the Defence Ministry saidThe intercepts took place about 20 km southeast of Sulina; the first drone was downed within two minutes of entering airspace at 14:59 GMT, the second at 15:05 GMTThe drones’ country of origin has not been disclosedThe incident follows drone strikes on two chemical tankers near Romania’s coast earlier in the weekForeign Minister Oana Toiu said the issue will be raised at a North Atlantic Council meeting on TuesdayThe euro is softer in thin early Asian trade, with riots in France and elsewhere in the EU adding pressureRomanian Air Force F-16 fighter jets shot down two drones over the country’s Black Sea territorial waters on Saturday, the Romanian Defence Ministry said, the latest sign that the security risks around the region’s sea lanes are spilling directly into NATO airspace.Defence Minister Radu Miruta said on Facebook that Romanian military pilots engaged and destroyed both drones shortly after they illegally entered national airspace. The intercepts took place roughly 20 kilometres southeast of Sulina, according to a report by DW, which drew on AFP and Reuters.Miruta gave a precise timeline. The first drone crossed into Romanian airspace at 14:59 GMT (10:59 a.m. US Eastern) and was brought down within two minutes. The second was shot down at 15:05 GMT (11:05 a.m. US Eastern), about five minutes after it entered.Authorities have not said where the drones came from, and no country has been identified as responsible. That gap matters: until the origin is established, the incident remains a confirmed airspace violation rather than an attributed act, and any read on intent or escalation is speculative.The shootdowns follow an incident earlier in the week in which two chemical tankers were struck by drones near Romania’s Black Sea coast. Taken together, the two episodes point to a growing threat to commercial traffic and to the airspace of a NATO member state in the same stretch of water.Foreign Minister Oana Toiu pledged on X that the Black Sea would be made safe again, and said the matter will be raised at a meeting of the North Atlantic Council, NATO’s main political decision-making body, on Tuesday.That meeting is now the key event to watch. Allies’ response will signal whether the incidents are treated as isolated violations or as part of a pattern requiring a stronger collective posture in the Black Sea, with implications for regional shipping, insurance costs and broader European risk sentiment. This article was written by Eamonn Sheridan at investinglive.com.