Business news from Ukraine

Business news from Ukraine

Turkey, Romania, and Bulgaria launch joint mine-sweeping operation in Black Sea

1 July , 2024  

Turkey, Romania, and Bulgaria on Monday launched a joint mine-sweeping operation in the Black Sea to improve shipping safety, especially during the export of Ukrainian grain, Bloomberg reports.
The publication noted that the Istanbul-led initiative is the first major joint action by the Black Sea countries since Russia’s invasion of Ukraine in February 2022 and focuses on clearing mines drifting in certain areas of the Black Sea as a result of the war.

“Russia and Ukraine are key grain producers, and the war has jeopardized the safe passage of goods. Kyiv launched its own Black Sea export route last year after the failure of a secure corridor agreement backed by Russia, Turkey and the United Nations. It has successfully boosted exports and helped the economy grow faster than forecast, but the route remains risky,” Bloomberg writes.
Among the major maritime losses, the publication named a Russian missile attack near the key Ukrainian port of Odesa on a merchant ship, killing the captain and other crew members, as well as a ship hired by Cargill Inc. that was damaged in November by an explosion while leaving a Ukrainian port in the Black Sea.
Ukraine said in March that exports from its Black Sea ports had almost returned to pre-war levels after repeated attacks and disruptions following Russia’s full-scale invasion. However, ports around Odesa frequently face strikes from Russia that continue to interrupt operations, Bloomberg recalled.

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