Ukraine’s losses from port shutdowns exceed $2 bln

World August 20, 10:41

Vessel traffic data show that large foreign commercial ships are not entering Odessa, Chernomorsk and Yuzhny

MOSCOW, August 20. /TASS/. Ukraine has already lost around $2 bln in foreign currency revenues due to the shutdown of its seaports, which has continued since July 22, according to TASS calculations.

Ukraine’s main commercial ports - Odessa, Chernomorsk, and Yuzhny - remain idle. Vessel traffic data show that large foreign commercial ships are not entering these ports.

Traffic through Danube ports, primarily Ukraine’s Izmail, as well as transit through Moldova to Romania’s Constanta, cannot offset the losses from the closure of the Odessa ports due to their lower cargo-handling capacity and navigation problems on the Danube amid hot weather in Europe. As a result, Ukraine’s agricultural exports have fallen by around 60% (more than $2 bln per month). Exports of iron ore and metals (around $700 mln per month) have virtually ceased, as up to 90% of these shipments went through the Odessa ports.

Available vessel tracking data do not include shipments of military cargo for the Ukrainian Armed Forces. The Russian Defense Ministry regularly reports strikes on cargo ships that it says were used to support the Ukrainian Armed Forces.

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