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12:59 31 Dec 2023

Exports via Black Sea grain corridor have doubled since August – Ukrainian minister for restoration

Exports through the Black Sea corridor introduced by Ukraine amounted to about 13 million tons at the end of December, compared to 7 million tons at the beginning of December

Ukraine's minister for restoration Oleksandr Kubrakov says since August, 13 million products have been exported through Ukrainian ports by 400 vessels to 24 different countries.

Ukrainian ports received 430 vessels for loading.

 

On December 4, Oleksandr Kubrakov stated that since the spring of 2023, 7 million tons of products have been exported through Ukrainian ports on 200 ships, 5 million tons of which were Ukrainian agricultural exports.

What is known about the "humanitarian corridor" in the Black Sea

In August, Ukraine announced a "humanitarian corridor" to free up ships bound for African and Asian markets and to circumvent a de facto blockade by Russia after Moscow reneged on a deal that guaranteed its exports during the war.

The Ukrainian Navy has announced the opening of a temporary corridor that can be used by all civilian vessels, including those in Odesa ports.

The government has created a new mechanism for insuring ships against war risks, which will significantly reduce the current insurance premiums for carriers exporting and importing from or to the country by sea.

As of early December, Ukraine has exported nearly 700,000 tons of grain during the operation of the temporary sea corridor, mainly to Europe and Africa.

Category:
Economics

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