Ukraine is finalizing a scheme with global insurers for insurance coverage of grain ships, Ukraine’s deputy economy minister Oleksandr Hryban has told the Financial Times
Ukraine is finalizing the development of a scheme with global insurers for insurance coverage of grain ships traveling to/from Black Sea ports, Ukrainian Deputy Economy Minister Oleksandr Griban told the Financial Times.
According to him, the agreement “is being developed and actively discussed” between the relevant ministries, as well as domestic banks and international insurance groups, including Lloyd’s of London.
The scheme could be in place as early as next month, with five of the 30 ships passing through “dangerous locations” in Ukrainian waters.
Russia reportedly pulled out of the Black Sea Grain Initiative in July and said it would treat any civilian vessel leaving Ukrainian ports as a military target.
However, under the cover of Ukrainian coastal defense systems, the Joseph Schulte dry cargo ship left the port of Odessa on August 16 and used a temporary corridor in the Black Sea. On August 18, it arrived at the coast of Turkey and anchored in the port of “Ambarly” near Istanbul. The container ship Joseph Schulte was in the port of Odessa since February 23, 2022. On its board there were 2000 containers and 30 thousand tons of cargo, in particular food.
Earlier, Ukraine announced the creation of a “humanitarian corridor” in the Black Sea to free cargo ships trapped in its ports after Russia’s withdrawal from the “grain agreement”.
