Kyiv to Set Up Insurance Fund for Cargo Ships Entering into Ukraine Ports

February 24, 2023 at 9:20 PM
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Monitoring Desk

KYIV: Ukraine Deputy Prime Minister Oleksandr Kubrakov said Friday that Kyiv will pay compensation for possible damages to civilian vessels entering to its ports.

Ukraine is a key producer and exporter of agricultural products, chemical goods, metals, and chemical goods but has confronted blockades of Black Sea ports since Moscow’s invasion.

Kyiv-Moscow

The Deputy PM said via Twitter that the parliament of Ukraine had adopted a law to constitute a $500 million insurance fund.

Kubrakov added that they are starting work on resuming delivery and expanding the range of goods and products. He said that they invited nations of the civilized world and interested business firms to cooperate with them.

Kyiv said this week it would ask Ankara and Washington to start talks to roll over the Black Sea agreement that was agreed by 2022, seeking an extension of the deal that would also include the ports of Mykolaiv.

The Black Sea Grain deal brokered by Turkey and the UN in last year permitted grain to be exported from three ports of Ukraine. The deal was extended in November and it will expire on March 18.

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