Ukraine guarantees insurance payouts for vessels damaged at its Danube ports

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Ukraine, a major producer of grain, oilseeds, and steel products, will guarantee insurance payments to cargo vessels damaged in hostilities on its stretch of the Danube.

“We are talking about the possibility of full-fledged work at only three Ukrainian sea ports: Reni, Izmail, Ust-Dunaysk. Their role takes precedence,” the Ukrainian infrastructure ministry said on social media.

The government did not provide details of the insurance system, but instructed the infrastructure ministry to develop a plan. Ukrainian agriculture analysts have said the country, which exported 43 million tons in the peace period of 2021-2022 July-June season,grain exportsUkraine was the world’s fourth largest grain exporter in the 2020-2021 season, International Grains Council data shows.

Russia sent troops into Ukraine on February 24 in what it calls a “special military operation” to demilitarize the country. Western countries call it an unprovoked war of aggression.

Source: Insurance Report (insurancereport.net)

 

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