Head of the Ministry of Agrarian Policy Taras Vysotskyi said that the problem of insurance for ships entering the ports of Odesa has been solved, thanks to the creation of a joint Ukrainian-British insurance fund, to which the Ukrainian government contributed. “At the beginning of the Ukrainian grain corridor’s operation, insurance could be 5-7% more expensive than in pre-war times, and now this difference is 1-1.5%. We can state that there are no global problems with insurance today,” he said. Vysotsky states that the insurance fund continues to operate and is fully funded. “Fortunately, so far, there has been no need to pay out money from this fund. We hope that this will not happen in the future.” Vysotsky notes that infrastructure damage sustained by Ukrainian ports from systematic Russian attacks during the year of the maritime corridor’s operation amount to $500M.
Insurance costs for freight ships in Odesa ports are only 1.5% more expensive than pre-war prices.
