Shmyhal spoke about a special insurance mechanism for ships exporting grain from Ukraine

Ukraine has managed to create a special insurance mechanism for ships that have used the Navy’s temporary “grain corridor.” This was announced by Prime Minister Denys Shmyhal at a government meeting on November 14.

According to him, the mechanism was created as a result of agreements with the British government and a pool of insurance companies.

“It will allow for a discount on the cost of war risk insurance for exporters of all products from Ukraine. This will make the Black Sea maritime corridor more accessible to a wider range of exporters,” Shmyhal emphasized.

The Prime Minister added that the Cabinet of Ministers has already allocated funds to guarantee coverage of possible damage. The mechanism involves several banks and a pool of 14 insurers.

As a reminder, vessel traffic through the Ukrainian corridor continues both to and from the ports of Odesa and the region. Since August 8, 91 vessels have exported 3.3 million tons of agricultural and metal products.

Tags: insurance, war, Black Sea grain corridor, export