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Reuters
Reuters
Business

Ukraine to set up $500 million insurance fund for cargo ships entering ports

FILE PHOTO: Vessels are seen as they await inspection under the Black Sea Grain Initiative, brokered by the United Nations and Turkey, in the southern anchorage of the Bosphorus in Istanbul, Turkey December 11, 2022. REUTERS/Yoruk Isik

Ukraine will offer compensation for possible damages to civilian vessels entering its ports, Deputy Prime Minister Oleksandr Kubrakov said on Friday, as Kyiv tries to boost exports that are vital for its war-hit economy.

Ukraine is a major producer and exporter of agricultural products, metals and chemical goods but has faced blockades of Black Sea ports since Russia's invasion a year ago and only food cargo can be shipped abroad.

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